Document: 331 U.S. 461 67 S.Ct. 1340 91 L.Ed. 1602 COPEv.ANDERSON. ANDERSON v. HELMERS et al. Nos. 593, 656. Argued April 28, 1947. Decided June 2, Mr. Harold Evans, of Philadelphia, Pa., for Francis R. Cope, jr. Robert S. Marx, Cincinnati, Ohio, A. M. Anderson. Murray Seasongood, respondents Lawrence Helmers and others. [Argument Counsel from page 462 intentionally omitted] Justice BLACK delivered the opinion Court. 1 In Anderson Abbott, 321 349, 64 531, 88 793, 151 A.L.R. 1146, we held that shareholders BancoKentucky Company, a bank-stockholding company, were liable under 12 U.S.C. §§ 63, 64, U.S.C.A. an assessment on shares insolvent national bank in portfolio holding company. That suit was brought Kentucky District Court against Banco stockholders residing District. These suits equity Federal Courts Ohio Pennsylvania to enforce assessments Banco. No. 656 overruled motion dismiss made ground, among others, bill showed its face action barred by statute limitations.1 The Sixth Circuit Appeals reversed. 156 F.2d 47. 593 Third reversed decision which had there limitations. 972. We granted certiorari consider both cases. 329 707, 354, 356. 2 There is no federal limitations fixing period within must be statutory double liability banks. For this reason look law determine these may brought. McDonald Thompson, 184 71, 22 S.t. 297, 46 437; McClaine Rankin, 197 154, 158, 25 410, 411, 49 702, 3 Ann.Cas. 500; Rawlings Ray, 312 96, 97, 61 473, 474, 85 605. Even though are equity, states' statutes apply. it only scope relief sought multitude parties sued gives concurrent jurisdiction legal obligation here asserted. And will withhold such case where applicable would bar remedy. Russell Todd, 309 280, 289, 60 527, 532, 84 754 cases cited. See also Guaranty Trust Co. York, 326 99, 65 1464, 89 2079, 160 1231; Holmberg Armbrecht, 327 392, 395, 396, 66 582, 584, 585, 90 743, 162 719. But even governed state statutes, have previously decided question when begins run depends upon when, law, Comptroller Currency, or his authorized agent, empowered bring suit. Comptroller's Receiver here, could not actions until date payment fixed Comptroller. supra, at pages 98, 475, 605; Fisher Whiton, 317 217, 220, 221, 602, 63 175, 176, 177, 87 223. instance 1, 1931. instituted more than five but less six years after payments became due order. 4 With regard 656, proceeding, provides 'upon created other forfeiture penalty, shall cause thereof accrued.' Gen.Code (Page, 1939) § 11222. This describes if does general provision narrowed another known as 'borrowing statute' reads: 5 'If laws any country arose limits time commencement number do like causes then said expiration lesser years.' 11234. 6 If Kentucky, applies Kentucky's limitations, barred. requires 'action * commenced Ky.Rev.Stat. (Baldwin, 1943) 413.120. 7 contends borrowing statute's language 'the arose' has reference 'a system jurisprudence Ohio's,' refer 'necessarily territorial limits' events occurred giving rise enforceable obligation. place occur 'important insofar controlling.' Under argument, 'arisen' since obligations imposed controlled law. Hence, argument runs, did contemplate borrowed none existed. Therefore, argued, Ohio's six-year applies. 8 consequence accepting contention effect all statecourts For, course, courts never borrow non-existent governing federally right, control own force. Herget Central National Bank & Co., 324 4, 505, been cited court lead us believe should given sterilizing interpretation. Cf. Townsend Eichelberger, 51 St. 213, 216, 38 N.E. 207, 208. 9 find unnecessary our discuss contentions concerning differences between 'cause action' 'liability.' Supreme itself fact combination facts right action, existence affords party judicial interference behalf.' Baltimore O.R. Larwill, 83 108, 115, 116, 93 619, 621, 34 L.R.A., N.S., 1195. referred nothing decisions indicates used different sense statute. purpose state's statute2 those states,3 apparently require resident sue him already expired circumstances taken place. Moreover, rights similarly considered crucial transpired. Seaboard Terminals Corporation Standard Oil New Jersey, D.C., 24 F.Supp. 1018, Id., Cir., 104 659; Bluefields S.S. United Fruit 243 F. 19, 20. Campbell City Haverhill, 155 610, 15 39 280; Chattanooga Foundry Pipe Works Atlanta, 203 390, 397, 27 65, 66, 241. 10 Our appraisal statute, opinions leading suit, persuade 'arose' meaning banking business Louisville 81, 81. Nor bank's local, because Delaware corporation. Many provisions make banks, important aspects peculiarly local institutions. 30, 33, 34a, 36, 51, 62, 72, 72. jurisdictional purposes, 'citizen' established located, 28 41(16), district alone can sued. 94, 94. True, insolvency occurs, shift management, activities still necessarily rooted habitat. Receiver's office located Louisville, home bank; assessments, bank, there, and, fact, notified pay Louisville.4 Liquidation daily operations, necessity interest good carried on, main, community with depositors customers. Practically everything preceded final derived transactions. decisions, unable any, contradict conclusion whichculminated justify Hunter Niagara Fire Ins. 73 110, 76 563, L.R.A.,N.S., 1187, 112 Am.St.Rep. 699, 146; Alropa Kirchwehm, 138 33 N.E.2d 655; Payne 141 384, 48 224, 149 1217; Bowers Holabird, App. 413, 326; Bondholders Stoddard, Supp. 19. Hilliard 476; Note, U. Cin.L.Rev. 337 (1941); 21 O. 107 (1941). Therefore judgment affirmed. 11 same considerations controlling. arisen Pennsylvania, Pa. Stat. 31 (Purdon, 1931). provides: 'When fully arose, complete defense thereon commonwealth.' Pa.Stat. review construing persuades case, year bars action. Mister Burkholder, 56 Pa.Super. 517; re Fletcher's Estate, 45 Dist. 673, 674; Bell Brady, 346 666, A.2d 547; Shaffer's 228 40, 716, 717. Rosenzweig Heller, 302 279, 153 346. Notes, L. Rev. 878 (1941), Pitt.L.Rev. 215 (1938). therefore So ordered. 13 Affirmed part part. 14 CHIEF JUSTICE took consideration convenience, four defendants who here. continued others pending disposition ground passed. Jurisprudence (1932), 435—440. 75 (1931); 35 Col.L.Rev. 762 (1935). Whether notice particular alter conclusive situation might 'arise' need decide.

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