Neikirk v. Republic Banking Co.
Ohio Supreme Court
Neikirk v. Republic Banking Co., 5 Ohio Law. Abs. 200 (Ohio 1927)
Allen, Day, Jones, Kinkade, Matthias, Robinson
Neikirk v. Republic Banking Co.
Opinion of the Court
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.
Reference
- Full Case Name
- Lester J. Neikirk, Exr. v. The Republic Banking Co.
- Status
- Published