MCDONALD
v.
THOMPSON

U.S. | 1902-02-03
No. 95
184 U.S. 71 Supreme Court of the United States (1902) Negative Treatment
Also reported at: 46 L. Ed. 437 · 22 S. Ct. 297 · 1902 U.S. LEXIS 2313 · SCDB 1901-111
Cited by 134 cases
Opinion of the Court
Mr. J ustioe Brown,

Mr. J ustioe Brown,

after making the above statement, delivered the opinion of the court.

This bill is founded upon Bev. Stat., § 5151, which declares that “ the shareholders of every national banking association shall be held individually responsible, equally and ratably, and not one for another, for all contracts, debts and engagements of such association, to the extent of the amount of their stock therein, at the par value thereof, in addition to the amount invested in such shares,” etc. By section 5234 the Comptroller of the Currency is authorized to appoint a receiver of insolvent banks, who “ may, if necessary to pay the debts of such association, enforce the individual liability of the stockholders.”

The case turns upon the applicability of the state statute of limitations, which, so far as it is material, reads as follows :

elow, and it is therefore

Affirmed.

Cases With Similar Vibessemantic neighbors from the corpus

Citator

Cited By (38 total)

  • Smith v. Feschheimer, 124 Fla. 757 (Fla. 1936)
    …d as the rule of decision in this case, and the liability of a stockholder of a national bank, or his executor, is subject to the state statute of limitations. Campbell v. Haverhill, 155 U. S. 610, 15 S. Ct. 217, 39 L. Ed. 280; McDonald v. Thompson, 184 U. S. 71, 22 S. Ct. 297, 46 L. Ed. 437. It has been held by the Supreme Court of Mississippi that the nonclaim statute in question is a statute of limitations. Miller v. Trustees of Jefferson College, 5 Smedes & Smedes & M. (Miss.) 437. “We are in accord wi…
  • Smith v. Barnett Nat'l Bank of Jacksonville, 116 Fla. 454 (Fla. 1934)
    …tion 2939 R. G. S., 4663 C. G. L., is the controlling statute of limitation in regard to causes of action of this character as this is an action upon a liability [*459] created by statute other than a penalty or forfeiture. See McDonald v. Thompson, 184 U. S. 71, 46 L. Ed. 437. Demurrer was sustained to plaintiff’s replications Nos. 5, 6 and 7. These replications sought to plead a suspension of the running of the statute of limitations because it is alleged that on January 22, 1929, P. Tomasello, Jr., was…
  • Russell v. Todd, 309 U.S. 280 (U.S. 1940)
    …decisions of this Court applying the three-year statute of limitations in a suit to enforce the liability of stockholders of a state bank in Platt v. Wilmot, 193 U. S. 602; cf. as to liability of stockholders of national banks, McDonald v. Thompson, 184 U. S. 71; McClaine v. Rankin, 197 U. S. 154. [*285] Section 16 of the Federal Farm Loan Act provides that the shareholders of every joint stock .land bank “shall be held individually responsible, equally and ratably, and not one for another, for all . . . de…
    1 / 2

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