Jones v. Rankin

Citations

• 19 N.M. 56
• 140 P. 1120

Syllabus

<p>SYLLABUS BY THE COURT.</p> <p>1. The additional liability of a stockholder depends upon the terms of the statute creating it, and, being in derogation of the common law, the statute cannot be extended beyond the words used.</p> <p>P. 60</p> <p>2. Sec. 14, Chap. 68, S. L. 1887, construed. Held that it imposes no individual liability upon stockholders in a savings bank for the debts of such bank, where the original subscribers for such stock paid the full par value thereof to the corporation.</p> <p>P. 64</p> <p>3. The general corporation act (Laws 1905, Chap. 79) did not repeal or change the liability of stockholders under Chap. 36, S. L. 1884, and Chap. 68, S. L. 1887.</p> <p>P. 64</p>