Abilene State Bank v. Strachan

Citations

• 89 Kan. 577
• 132 P. 200

Syllabus

<p>SYLLABÜS BY THE COURT.</p> <p>1. Bank Stock — Assigned—Not Transferred on Stock Book— Shareholder Liable. To effect an assignment and disposition of shares of capital stock in a bank so as to release the assignor from the superadded liability of shareholders fixed by law he must procure a transfer of the stock on the books of the bank in accordance with the provisions of the banking act.</p> <p>2. - Same. Such a transfer is essential to a release from liability of a shareholder who sells and assigns his stock to the bank itself in payment of a previously contracted debt owing by him to the bank.</p>