Northwestern Loan & Banking Co. v. Muggli

Citations

• 8 S.D. 160
• 65 N.W. 442
• 1895 S.D. LEXIS 23

Syllabus

<p>1. The shares of stock of an incorporated banking association being, as provided by Chapter 14, Laws 1891, assessed against the individual owners thereof, and the tax extended thereon being against and payable by such individual shareholders, and not by the bank, such bank cannot, in its own name, and for itself, maintain an action to restrain the collection of such tax from the individual stock owners,</p> <p>2. Such action cannot be maintained by the bank .on the ground of avoidance of a multiplicity of suits, upon a complaint which does not show facts which would or might expose the bank to such suits.</p> <p>(Syllabus by the Court.</p>