Farmers State Bank v. Reed

Citations

• 114 Kan. 216
• 217 P. 320
• 1923 Kan. LEXIS 60

Syllabus

<p>SYLLABUS by the court.</p> <p>1. Insolvent Bank — Fund Collected From Stockholders A Trust Fund /or , Benefit oj All Creditors. The fund collected by a receiver of .an insolvent bank from the stockholders under their statutory liability is a reserve or trust fund for the benefit of all the creditors of the insolvent bank.</p> <p>2. Same — Stockholder May Not Offset His Statutory Liability by Claim as Creditor. A stockholder in an insolvent bank can not offset his statutory liability by a creditor’s claim against the bank.</p>