Kansas State Bank v. Laughlin

Citations

• 110 Kan. 559
• 207 P. 433
• 1922 Kan. LEXIS 95

Syllabus

<p>SYLLABUS BY THE COURT.</p> <p>Banking Act — Statute Imposing “Double Liability” upon Stockholders Repealed by Constitutional Amendment. The section of the banking act (Gen. Stat. 1915, § 523) providing that stockholders of a bank shall be additionally liable for a sum equal to the par value of the stock owned by each was repealed by the amendment to section 2, article 12, of the constitution adopted in 1906, which provides that:</p> <p>“Dues from corporations shall be secured by the individual liability of the stockholders to the amount of stock owned by each stockholder, and such other means as shall be provided by law,” etc.</p>