Full text
GURNEY P. HOOD, Commissioner of Banks, ex rel. CITIZENS BANK OF FARMVILLE, and B. B. MASSAGEE, Liquidating Agent for the CITIZENS BANK v. MRS. SARAH DARDEN, of J. H. DARDEN
BuogdeN, J.
The liability of stockholders of insolvent banks is prescribed by C. S., 219(a). It has been held that this liability is contractual. Corp. Com. v. Bank, 192 N. C., 366. The statute creates no preference for such a liability and none results from the application of the pertinent principles of equity. Therefore, the judge ruled correctly.
Affirmed.