Hood ex rel. Citizens Bank of Farmville v. Darden
Supreme Court of North Carolina
Hood ex rel. Citizens Bank of Farmville v. Darden, 206 N.C. 566 (N.C. 1934)
Buogden
Hood ex rel. Citizens Bank of Farmville v. Darden
Opinion of the Court
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.
Reference
- Full Case Name
- GURNEY P. HOOD, Commissioner of Banks, ex rel. CITIZENS BANK OF FARMVILLE, and B. B. MASSAGEE, Liquidating Agent for the CITIZENS BANK v. MRS. SARAH DARDEN, of J. H. DARDEN
- Status
- Published