Farmers' State Bank v. Empey
South Dakota Supreme Court
Appeal from Circuit Court, 'Walworth County. Hon. Joseph H. Bottum, Judge- Action by State Bank Examiner, in the name of the Farmers’ State Bank of Mohnidge, á corporation*, against Catherine B. Empey, to enforce -defendant’s statutory liability as stockholder in said bank. From a judgment for defendant, and from an order denying a new trial, plaintiff appeals.
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Appeal from Circuit Court, 'Walworth County. Hon. Joseph H. Bottum, Judge- Action by State Bank Examiner, in the name of the Farmers’ State Bank of Mohnidge, á corporation*, against Catherine B. Empey, to enforce -defendant’s statutory liability as stockholder in said bank. From a judgment for defendant, and from an order denying a new trial, plaintiff appeals. (i) Under point one of the opinion, Appellant cited: Constitution -S- D., Art. 18, ’Sec. 3; Session Laws of 1909, Ch. 222, Art. 2, Secs- 13 and 14; Sctott v. Deweese, 181 U. S. 202, 45 LEd. 822; Lantry v. Wallace, 97 Fed. 865; Scott v.…
1Opinion of the CourtWhiting, J.
Defendant purchased a controlling interest in plaintiff bank from its president; she was then elected presi*110■dent and 'her husband cashier of said hank; her husband assumed active management thereof; after such change in management the hank continued business for a period of 40 days when it was found to be insolvent, and was closed by' the state bank examiner.
Section 41, art. 2, c. 222, Laws 1909, which was enacted for the purpose of carrying out the provisions of section 3, art. 18, of ■the Constitution of this state, provides as follows:
“The stockholders of every bank shall be individually…
2Cases cited12 opinions
- Pauly v. State Loan & Trust Co.Supreme Court of the United States · 1897
- Newton Nat. Bank v. NewbeginCourt of Appeals for the Eighth Circuit · 1896
- Turner v. YatesSupreme Court of the United States · 1854
- Scott v. LatimerCourt of Appeals for the Eighth Circuit · 1898
- Wiseman v. N. P. R. R.Oregon Supreme Court · 1891
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