McAFEE v. STATE ex rel. WALCOTT

McAFEE v. STATE ex rel. WALCOTT
1926 OK 96
243 P. 721
116 Okla. 30
Case Number: 16039
Decided: 02/02/1926
Supreme Court of Oklahoma

McAFEE
v.
STATE ex rel. WALCOTT, Act. Bank Com'r.

Syllabus

¶0 1. Appeal and Error--Review -- Agreed Facts.
The trial of the cause upon an agreed statement of facts on appeal presents purely a question of law for consideration.
2. Same--Stockholder's Liability in Failed Bank Sustained.

Record examined; held, to be sufficient to support judgment in favor of the plaintiff.

J. P. Speer, for plaintiff in error.

W. C. Lewis, J.
T. McIntosh, and M. W. McKenzie, for defendant in error.

STEPHENSON, C.

¶1 The defendant owned four shares of stock of the par value of $ 100 each, in the Farmers State Bank of Comanche, Okla. The banking institution became insolvent, and the Bank Commissioner commenced his action against the defendant to recover a sum of money equal to the par value of the stock, pursuant to statutory provisions. The cause was tried upon an agreed statement of facts which was in substance:

(1) That J. A. McAfee was the owner of four shares of stock in the Farmers State Bank of Comanche, Okla., of the par value of $ 100 each; that the bank became insolvent, and the State Bank Commissioner, pursuant to statutory provisions, took charge of the institution on the 7th day of August, 1922, for the purpose of liquidation.

(2) That J. A. McAfee had on deposit in the banking institution the sum of $ 2,684.88, at the time the Bank Commissioner took charge of the banking institution on account of the insolvent condition, for the purpose of liquidation; that J. A. McAfee tendered his check on the Farmers State Bank of Comanche, Okla., for the sum of $ 400 to the liquidating agent in settlement of his statutory liability on the stock owned by the defendant, which was refused.