First National Bank v. Hunt

Citations

• 16 Ohio N.P. (n.s.) 65

Syllabus

<p>Banks and Banking — Lien of a Bank Upon Stock Owned by One Indebted to it — Reason for a Statutory Provision Creating Such a Lien — Restraints Upon Directors and Stockholders — Section 9683.</p> <p>1. A bank organized under tbe laws of Ohio, and incorporated under the act of March 21st, 1851, known as the “free banking act,” has a lien upon the shares of stock of its stockholders, issued' and outstanding, for any indebtedness due from such stockholder to such bank, by virtue of Section 9683. of the General Code of Ohio, and this lien is superior to the lien of another creditor, although created more than two years prior to such stockholder becoming indebted to such bank.</p> <p>2. There can be no lien in favor of a bank incorporated under the act of March 21st, 1851, upon any stock issued after June 7th, 1911, by virtue of Section 8673-15 of the General Code of Ohio, unless the right of such lien be stated upon the certificate of stock.</p>