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ELSON v. SECURITY STATE BANK OF ALLERTON

No. 48572.

67 N.W.2d 525 (1954)

C. W. ELSON, Plaintiff-Appellant, v. SECURITY STATE BANK OF ALLERTON, Iowa, a Corporation, Defendant-Appellee.

Supreme Court of Iowa.

Rehearing Denied February 11, 1955.

Attorney(s) appearing for the Case

Garrett & Bown, Corydon, W. B. Hays, Centerville, for appellant.

Elton A. Johnston, William H. Miles, Corydon, for appellee.

HAYS, Justice.

Law action, tried to the court without a jury, for the conversion of five shares of stock in the defendant bank. The trial court dismissed plaintiff's petition and he has appealed.

Jessie E. Hinkle, now deceased, was the record owner of five shares of stock of the Security State Bank of Allerton, Iowa. Article 10 of the bank's by-laws provided: "No transfer of stock * * * shall be made to any person not already a stockholder until notice of...

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