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

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.

Reference

Full Case Name
Lester J. Neikirk, Exr. v. The Republic Banking Co.
Status
Published