Apsey v. Kimball - 221 U.S. 514 (1911)
U.S. Supreme Court
Apsey v. Kimball, 221 U.S. 514 (1911)
Apsey v. Kimball
No. 132, 133
Argued April 20, 1911
Decided May 29, 1911
221 U.S. 514
Shareholders who have complied, so far as steps required to be done on their part are concerned, with the provisions of the Act of July 12, 1882, 22 Stat. 162, c. 290, in regard to withdrawing from a national banking association, two-thirds of the shareholders whereof have asked for a renewal of the charter, cease to be members of the association even if, through no fault of their own, the final action is not taken, and such shareholders are not liable for assessments subsequently made by the Comptroller of the Currency under § 5151, Rev.Stat.
164 F. 830 and 199 Mass. 65 affirmed.
The facts, which involve the construction of § 5151, Rev.Stat., and the liability of shareholders in national banks thereunder, are stated in the opinion.