Aufdenkamp
Aufdenkamp v. L'Herrison
Opinion
Lead Opinion
Sawtelle, J.
This is a suit by plaintiff as receiver of the Gregory National Bank of Gregory, S. D., a banking association, against the defendants to establish the liability of stockholders in a national banking association.
The complaint, inter alia, alleges: That said bank was a national banking association duly organized and chartered and existing as such pursuant to act of Congress of the United States known as the National Bank Act and was engaged in the banking business; that on or about November 2, 1925, said bank became and was by the Comptroller of the Currency of the United States declared insolvent and ordered closed; that the plaintiff was thereafter by said *345 Comptroller duly appointed as receiver of said bank and ever since has been and now is the duly appointed, qualified,' and acting! receiver thereof. The complaint further alleges that on and prior to November 1, 1925, the defendant Effie E. 0. Sanford was the owner of 50 shares of the par value of $100 each of the capital stock of said bank; that on or about the last-mentioned date said shares of stock were transferred to defendant Aufdenkamp, who became the owner thereof; that such transfer of said shares of stock was…