Campbell

This action was instituted by plaintiff, a stockholder in the Farmers & Merchants Bank of Imperial, to recover from defendant Superintendent of Banks of the State of California a certain sum of money paid by said plaintiff on account of an assessment imposed by said defendant upon the stockholders of the bank after the bank had become insolvent and defendant’s predecessor in office had taken possession of the property and business of the bank and was proceeding to liquidate its affairs. Defendant’s predecessor took possession of the bank’s property and business on October 10, 1927. On this date plaintiff was the owner of sixty shares of stock of the bank. Thereafter and during the process of liquidation, defendant’s predecessor levied an assessment upon the stockholders of the bank in accordance with the provisions of chapter 496 of the Statutes of 1917, page 581, as amended by chapter 420 of the Statutes of 1925, page 905. The assessment levied upon plaintiff amounted to $6,000. Of this amount plaintiff paid the sum of $2,515.87. On April 18, 1929, the Supreme Court of California held that the statute by virtue of whose provisions the assessment was levied upon plaintiff was…