Madison Bank v. Price

Citations

• 79 Kan. 289
• 100 P. 280
• 1909 Kan. LEXIS 177

Syllabus

<p>SYLLABUS BY THE COURT.</p> <p>1. Banks and Banking—Transfer of Stock on the Books. It is the statutory duty of a bank of this state to make transfers of its stock upon its books pursuant to a transfer by the registered holder unless such holder is indebted to it on a matured and unpaid obligation or unless the bank is insolvent or its capital is impaired.</p> <p>2. - Same. If the conditions named do not appear the duty is purely ministerial, the bank has no discretion in the matter, and it has no concern with the consideration or motive of the transfer.</p> <p>S. -Suit in Equity to Compel Transfer. If a small interior bank of this state wrongfully refuse to make a transfer of its stock on its books the transferee has no adequate remedy at law and may maintain a suit in equity to compel the transfer to be made.</p>