Supreme Court of North Carolina, 1934

Hood ex rel. Citizens Bank of Farmville v. Darden

Hood ex rel. Citizens Bank of Farmville v. Darden
Supreme Court of North Carolina · Decided May 23, 1934 · Buogden
206 N.C. 566

Hood ex rel. Citizens Bank of Farmville v. Darden

Opinion of the Court

BuogdeN, J.

The liability of stockholders of insolvent banks is prescribed by C. S., 219(a). It has been held that this liability is contractual. Corp. Com. v. Bank, 192 N. C., 366. The statute creates no preference for such a liability and none results from the application of the pertinent principles of equity. Therefore, the judge ruled correctly.

Affirmed.

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