Glass v. Lock

December 13, 1937, plaintiff brought suit against defendants to recover a bank stockholders’ assessment. From judgment for defendants, plaintiff appeals.

The American Home Security Bank, a Michigan corporation, was closed by governor’s proclamation February 14, 1933. It subsequently reopened and conducted business under a conservator until a receiver was appointed for it October 2,1933. November 15,1933, a 100 per cent, assessment of the stockholders of the bank was ordered by the State banking commissioner to be levied upon the owners of the stock of the bank.

September 19, 1931, defendant…