Oswald v. Lawton

The opinion of the Court was delivered by

Mr. Justice Bonham.

January 20, 1927, the Allendale Bank was placed in the hands of the State Bank Examiner for a time limited under the statute. While it was thus under the control of the State Bank Examiner, steps were taken looking toward the reopening of the bank. The depositors instituted a movement by which they agreed to write off, or relieve the bank of liability for, 50 per cent, of each respective deposit. This agreement was approved by the State Bank Examiner and duly signed by the depositors. A meeting of the stockholders was held, at which…