Ohio Supreme Court, 1927

Neikirk v. Republic Banking Co.

Neikirk v. Republic Banking Co.
Ohio Supreme Court · Decided March 29, 1927 · Allen, Day, Jones, Kinkade, Matthias, Robinson
5 Ohio Law. Abs. 200

Neikirk v. Republic Banking Co.

Opinion of the Court

ROBINSON, J.

Where a bank, organized and incorporated under the laws of the state of Ohio, extends credit to a firm in violation of the provisions of Section 710-122, General Code, and by reason thereof suffers an impairment of its capital, and a state bank examiner requires the directors to restore such capital, and certain of the directors do restore such capital unconditionally, the bank as such is not entitled to a further recovery from any one else upon the items covered by such payment.

Judgment reversed and cause remanded.

Day, Allen, Kinkade, Jones and Matthias, JJ., concur.

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