This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1918 Excerpt: ...citizens of that State. If such legislation does not deny to citizens of other States, in respect of matters growing out of the ordinary transactions of business, privileges that.are accorded to it by citizens of Tennessee, it is difficult to perceive what legislation would effect that result. We adjudge that when the ...
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This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1918 Excerpt: ...citizens of that State. If such legislation does not deny to citizens of other States, in respect of matters growing out of the ordinary transactions of business, privileges that.are accorded to it by citizens of Tennessee, it is difficult to perceive what legislation would effect that result. We adjudge that when the general property and assets of a private corporation lawfully doing business in a State are in course of administration by the courts of such State, creditors who are citizens of other States are entitled, under the Constitution of the United States, to stand upon the same plane with creditors of like class who are citizens of such State.4 In Belfast Savings Bank v. Stowe, 92 Fed. ipo, 34 C. C. A. 229, it was held that a foreign assignment by an insolvent debtor will operate upon property in the State so as to defeat an attachment procured by a resident creditor. It should be noticed that in the decision in Blake v. McClung the Court observes that the objections to the statute under consideration would not necessarily be applicable to state laws requiring foreign corporations, as a condition of coming into the State, to deposit with a designated state official funds sufficient to secure resident stock-or policyholders. Such a deposit would be regarded as in the nature of a trust, and the corporation would be deemed to have consented that in case of insolvency the fund should be distributed according to the terms of the statute. This specific decision was made in People v. Granite State Provident; Association,8 in the case of a foreign building and loan association. Why this distinction should be drawn is not clear. It may indeed be said that creditors in other States know that those particular funds are segregated from the mass of property own...
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Add this copy of French Protestantism, 1559-1562, Volume 36 to cart. $66.43, good condition, Sold by Bonita rated 4.0 out of 5 stars, ships from Newport Coast, CA, UNITED STATES, published 2010 by Nabu Press.
