Court Opinion

ID: 9830361
Source: CourtListenerOpinion
Date Created: 2023-09-01 20:08:46.037596+00
Date Added: 2024-06-11T12:24:48.444657
License: Public Domain

*722On Motion for Rehearing.
The appellant’s prayer in his original petition was for judgment for the withdrawal value of his stock, $16,693, and for an injunction requiring the appellee to apply all of the receipts from the sources named in the statute upon said payment. The record or the briefs are not in sufficient condition to show us what such receipts were for November, 1932.
By a supplemental petition, the appellant alleged a policy of appellee to exchange its real estate and/or notes for stock at withdrawal value. The prayer thereto was for general relief. Whether the appellee was insolvent or not at the time of such exchanges is not found, the trial court confining its findings to insolvency at the time of the trial. In view of that finding, the appellee’s right to make such exchanges no longer exists. The question of actual insolvency ■ prior to such adjudication, and the effect thereof, is not before us, and is one on which the holdings of other jurisdictions are not in accord. Raying aside the propriety of asking original relief in a supplemental petition, neither the prayers nor the records enable us to make any finding of fact as to such practices or as to dividend. Therefore, when we said “without prejudice” we intended it to be understood that the right of appellant to enjoin exchanges after insolvency, and his rights as a creditor in the application to his claim of one month’s statutory receipts if the association was then solvent, and his right to his dividends, are not cut off by this affirmance, and that he may have his relief in court hei’e-after if the appellee does not perform its obligations to him.
Motion overruled.