23 P.2d 605 | Kan. | 1933
The opinion of the court was delivered by
This is an action to enjoin defendants from entering into an agreement for the reorganization of a failed bank. The trial court made findings of fact-and rendered judgment for defendants. Plaintiffs have appealed.
It appears from the record that the Kansas State Bank of Holton bad been designated as a depository by the board of county com
Thereafter this action was brought by the city of Holton and by three taxpayers of the city and county to enjoin the county and its board of county commissioners from entering into the proposed reorganization agreement. Broadly speaking, the county claims the right to enter into the proposed reorganization agreement for three reasons: First, because of the first proviso in chapter 80 of the Laws of 1933, which, briefly, provides that a failed bank in charge of a deputy bank commissioner and its creditors may formulate a reorganization plan which, if subscribed to in writing by eighty per cent in amount of the general creditors and approved by the bank commissioner, is binding upon all general creditors. Prior to this statute perhaps such an agreement would be binding only on those who subscribed to the plan, and a few creditors might defeat a reorganization by declining to subscribe. Second, it is contended that some of the subdivisions of R. S. 19-212, relating to. the powers and duties of boards of county commissioners, are broad enough to authorize the board of county commissioners to enter into this reorganization agreement. Third, that the question is res judicata, having been determined in the declaratory-judgment action previously mentioned.
Defendants also raised the question that plaintiffs in this action have no authority or capacity to maintain it; that from its nature it is one which can be maintained only by the state on the relation of the attorney-general or county attorney. This last point is well
The result is there is no one who is a plaintiff in this action who has any capacity to maintain it, either in this court or in the trial court. The judgment of the trial court will be reversed with directions that the action be dismissed for the lack of a proper party plaintiff. It is so ordered.