Andrew v. Farmers State Bank

There is but one question involved, and that relates to whether the stockholders, defendants and appellees, were liable to an assessment for stock owned by them in the Farmers State Bank, of Logan, after the institution closed its doors and went into the-hands of a receiver. For some years before June 14, 1928, the Farmers State Bank, of Logan, was ail Iowa banking corporation, duly organized and operating. While the bank was thus existing and operating, the Iowa state superintendent of banking, on December 26, 1927, under authority of Section 9246 of the 1927 Code, ordered the bank directors…