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" The shareholders or stockholders of every banking or insurance corporation or association shall be held individually responsible, equally and ratably, and not one for another, for all contracts, debts, and engagements of such corporation or association,... "
Paine's Analysis of the Federal Reserve Act and Cognate Statutes: Including ... - Page 114
by Willis Seaver Paine - 1917 - 416 pages
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United States Reports: Cases Adjudged in the Supreme Court, Volume 121

United States. Supreme Court, John Chandler Bancroft Davis, Henry Putzel, Henry C. Lind, Frank D. Wagner - 1887 - 714 pages
...directed their proofs." By the original national banking act, § 5151 Rev. Stac., it was declared that " the shareholders of every national banking association...shall be held individually responsible, equally and rat ably, and not one *or another, for all contracts, debts, and engagements of such association, to...
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United States Reports: Cases Adjudged in the Supreme Court at ... and Rules ...

United States. Supreme Court - 1887 - 712 pages
...directed their proofs." By the original national banking act, § 5151 Rev. Stat., it was declared that " the shareholders of every national banking association...shall be held individually responsible, equally and ratabty, and not one for another, for all contracts, debts, and engagements of such association, to...
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Acts Passed by the General Assembly of Georgia

Georgia - 1887 - 960 pages
...shareholders of Liability this association shall be held individually responsible, equally and hofders." ratably, and not one for another, for all contracts, debts and engagements of this association to the extent of the amount of their stock therein, at par value thereof, in addition...
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A Treatise on the Law of Banks and Banking, Volume 2

John Torrey Morse (Jr.) - 1888 - 712 pages
...existing creditors of the association shall be impaired. (6) (5151.) Liability of Shareholders.2 — The shareholders of every national banking association...contracts, debts, and engagements of such association, to 1 Van Allen ». The Assessors, 3 Wall. 573. See Lien on Shares, §§ 112, 112 a. 2 §§ 112 6 and 106...
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Laws of the Territory of Utah Passed by the Legislative Assembly, Volume 28

Utah - 1888 - 264 pages
...SEC. 20. The shareholders of every bank- !£,*"" ing or savings association organized under this law shall be held individually responsible, equally and...contracts, debts and engagements of such association made or entered into to the extent of the amount of his stock therein at the par value thereof, in...
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Arkansas Reports: Cases Determined in the Supreme Court of the ..., Volume 116

Arkansas. Supreme Court - 1916 - 638 pages
...section reads, as follows: "Section 36. The stockholders of every bank doing business in this State shall be held individually responsible equally and...another, for all contracts, debts and engagements of such bank, to the extent of the amount of 'their stock therein, at the par value thereof, in addition to...
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The American State Reports: Containing the Cases of General Value ..., Volume 3

Abraham Clark Freeman - 1888 - 978 pages
...137; so the liability is several under the national banking act, which provides that the stockholders "shall be held individually responsible, equally and ratably, and not one for another ": Kennedy v. Gibson, 8 Wall. 493, 505; United Slates v. Knox, 102 U S. 422; Bailey v. Sawyer, 4 Dill....
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The National-Bank Act and Other Laws Relating to National Banks, from the ...

United States - 1889 - 120 pages
...shareholders of every national bank holders. ing association shall be held individually responsible, eqnalk and ratably, and not one for another, for all contracts,...engagements of such association, to the extent of tin-, amount of their stock therein, at the par value thereof, û Exception a» addition to the amount...
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Acts and Resolves Passed by the ... Legislature of the State of Maine

Maine - 1889 - 776 pages
...holders of the notes thereof in preference to ull other creditors; the stockholders of the corporation shall be held individually responsible, equally and ratably, and not one for the other, for all the contracts, debts, and engagements of the corporation to the extent of the amount...
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Reports Made to the Senate and House of Representatives of the ..., Volume 4

Illinois - 1889 - 716 pages
...stockholders as follows: "The shareholders of each association formed under the provisions of this act, shall be held individually responsible equally and ratably, and not one for the other, for all contracts, debts, and engagements of such person or association to the extent of...
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