Scaife v. Scammon Investment & Savings Ass'n

Citations

• 71 Kan. 402
• 80 P. 957
• 1905 Kan. LEXIS 151

Syllabus

<p>SYLLABUS BY THE COURT.</p> <p>1 Corporations — Ancillary Receiver. A circuit court of the United States has power to appoint an ancillary receiver of assets of an insolvent corporation within its jurisdiction in aid of a primary appointment by a state court of another state. An exhibition to the federal court of the proceedings of the state court in the suit wherein the receiver was originally appointed is sufficient to authorize its action in the respect stated.</p> <p>2. Mortgages — Assignment by Operation of Law. A provision in a mortgage that it shall be non-negotiable and uneolleetable in the hands of any other person than the original mortgagee is not operative against an assignment effected by law or through an order of court.</p> <p>3. Corporations — Borrowing Stockholder’s Liability. A borrowing stockholder in a building and loan association that has become insolvent is not entitled to receive credit on his indebtedness to the association for the amounts paid in the purchase of stock, called dues.</p>