McCaslin v. Albertson

The defendants appeal from a decree enforcing a bank stockholders’ assessment in accordance with the statutory provisions therefor. 3 Comp. Laws 1929, § 11945.

The Grand Rapids Savings Bank, a Michigan hanking corporation, was closed by proclamation of the governor on February 14, 1933. From April 20, 1933, to September 1, 1933, the affairs of the institution were conducted by a conservator appointed under the authority of the emergency banking legislation of 1933. During the period the bank was in the control of a conservator, a plan of reorganization' was considered but adoption thereof was…