Kerr v. Urie

Citations

• 86 Md. 72
• 38 L.R.A. 119
• 37 A. 789
• 1897 Md. LEXIS 101

Syllabus

<p>-Married Women—Shares of Stock in National Banks—Personal Lia- . bility of Stockholder—Assignment of Shares.</p> <p>A married woman residing in this State is capable of holding shares of stock in a national bank located in another State, and is subject as such stockholder to the personal liability imposed by the National Banking laws, without regard to the question whether under the laws of the State where the bank is located a married woman may become the owner of shares of stock.</p> <p>A person who holds shares of stock in a national bank as a self-appointed attorney or trustee for an infant, or for an undisclosed principal, is subject to the liability imposed upon owners of such stock by sec. 5152 Rev. Statutes of the U. S.</p> <p>A party to whom shares of stock in a corporation are assigned is the equitable and real owner of the same, without a transfer on the books of the corporation.</p> <p>The general rule is that when a person appears on the books of a corporation to be the absolute owner of shares of stock, he will not be allowed to relieve himself from personal liability as a stockholder by showing that he held the stock in a representative capacity.</p>