Rankin v. Barton

Citations

• 69 Kan. 629
• 77 P. 531
• 1904 Kan. LEXIS 307

Syllabus

<p>SYI/LABUS BY THE COURT.</p> <p>1. Banks and Banking—Limitation on Liability of Stockholder of National Bank. An action to enforce the individual liability of a stockholder in a national bank is governed by the statute of limitations of the state in which it is brought.</p> <p>2. - Comptroller Must Order Assessment Without Unnecessary Belay. Ordinarily a cause of action on such liability does not accrue until the comptroller of the currency has ordered an assessment upon the stockholder, but that officer is subject to the rule that where preliminary action is essential to the bringing of a suit upon a claim, and such precedent action devolves upon the claimant, he cannot prevent the operation of the statute of limitations by unnecessary delay in taking such action.</p> <p>3. - Statute will Bun upon Comptroller's Failure to Order Assessment Within a Beasonable Time. When a national bank becomes insolvent it is the duty of the comptroller to make •an accounting and determine the necessity and extent of assessments upon stockholders within a reasonable time, and upon his failure so to do the statute of limitations begins to run in favor of stockholders.</p> <p>■4. -Admissions of Belay Not Overcome by Averment of Biligence. Where the facts alleged by the receiver disclosed that an assessment against stockholders was not made within a reasonable time the admission was not overcome by an averment that the comptroller did exercise diligence and made a second assessment as soon as he ascertained that the first assessment and the assets of the bank were insufficient.</p>