Coffin Bros. & Co. v. Bennett

• Decision Date: 20 June 1927
• Docket Number: 5753.
• Citation: 138 S.E. 670,164 Ga. 350
• Parties: COFFIN BROS. & CO. et al. v. BENNETT, Superintendent of Banks.
• Court: Georgia Supreme Court

138 S.E. 670

164 Ga. 350

COFFIN BROS. & CO. et al. v. BENNETT, Superintendent of Banks.

No. 5753.

Supreme Court of Georgia

June 20, 1927

Syllabus by Editorial Staff.

Acts 1919, p. 135, art. 7, § 20, as amended by Acts 1925, p. 119 creating department of banking, does not provide for judgments in personam against stockholders of bank liquidated by superintendent of banks, but provides only for summary issuance of executions against stockholders as mode of commencing suit to enforce their statutory liability to depositors.

Acts 1919, p. 135, art. 7, § 20, as amended by Acts 1925, p. 119 providing for summary execution against stockholders to enforce statutory liability to depositors and according stockholders right to contest by affidavits of illegality their liability for assessments levied by superintendent of banks, is not unconstitutional as denying stockholders due process of law.

Acts 1919, p. 135, art. 7, § 20, as amended by Acts 1925, p. 119 empowering superintendent of banks in liquidating bank to levy assessments and issue summary executions against stockholders to enforce statutory liability, does not violate Const. art. 1, § 1, par. 23, providing that legislative, judicial, and executive powers shall remain separate, since power conferred is not judicial, but ministerial and executive.

Error from Superior Court, Fulton County; Edgar E. Pomeroy, Judge.

Proceedings by T. R. Bennett, Superintendent of Banks, etc., against Coffin Brothers & Co. and others. Judgment for plaintiff, and defendants bring error. Affirmed.

G. Y. Harrell, R. L. Gillen, and R. S. Wimberly, all of Lumpkin, for plaintiffs in error.

C. N. Davie, of Atlanta, C. S. Reid, of Gainesville, and O. A. Park, of Macon, for defendant in error.

Syllabus OPINION.

HINES J.

1. Section 20 of article 7 of the act of August 16, 1919 (Acts 1919, p.

135) creating the department of banking of the state of Georgia, as amended by the act of August 26, 1925 (Acts 1925, p. 119), does not provide for rendition of judgments in personam against the stockholders of banks which the superintendent of banks has taken control of for the purpose of liquidation, but provides only for summary issuance of executions against stockholders of such banks, as a mode only of commencing against them suits to enforce their statutory liability to depositors (Heard v. Sibley, 52 Ga. 310; Stone v. Davidson, 56 Ga. 179, 182; Wheatley v. Glover, 125 Ga. 710, 54 S.E. 626); and, as this section as amended accords to such stockholders the right to contest by affidavits of illegality their liability for the assessments levied by the superintendent of banks, and the amount and necessity thereof, it is not unconstitutional as denying such stockholders due...