Dawson v. Detweiler

This is a suit to enjoin the receiver of the First State Bank of Milford from collecting a 100 per cent, stock assessment levied against the stockholders of the bank as of April 26, 1937.

Prior to July 6,1931, the above bank, a Michigan corporation, was doing a general banking business in the village of Milford. About this time, because of the financial condition of the bank, the stockholders paid a 100 per cent, stock assessment by way of voluntary contribution to restore the impaired capital stock of the bank. The bank continued to function until April 6,1932, when it closed its doors.

On May…