51 Ga. 633 | Ga. | 1874
This was a bill filed by the complainant against the defendants, praying for injunction to restrain the defendants from the enforcement of executions issued on judgments obtained against the-Bank of the Empire State, of which the complainant was a stockholder. The injunction prayed for having been granted, a motion was made to dissolve the same on the filing of the defendants’ answer and affidavits in support thereof On the hearing of'that motion the court modified the injunction, so far as to allow the defendants to collect the sum of $2,000 00 on their executions, and continued the injunction as to the balance 'due thereon. Whereupon the .defendants excepted. ,
It appears from the record, that on the 20th May, 1873, ihe defendants, as bill holders of the Bank of the" Empire State, obtained judgments against the bank for the sum of '$10,668 32, on Avhich executions issued, and a return of nulla bona having been made thereon by the sheriff, against the corporation, the same was levied on the property of the complainant as one of the stockholders thereof. The eleventh .section of the charter of said bank, declares “that the person ■and property of the stockholders in said bank, shall be pledged and bound in proportion to the amount of the shares that each individual, or company, may hold in the same, for the .ultimate redemption of said bills or notes issued by or from said bank during the time he, she or they may have held such •stock, in the same manner as in common commercial cases, or simple cases of debt; that the private or individual prop■ertyof each stockholder, as well as their joint property, shall ’be liable as before stated for the redemption of the-bills of said bank, and for the payment of all the debts and liabilities
Let the judgment of the court below be reversed, with instructions as indicated in this opinion.