Page:Federal Reporter, 1st Series, Volume 10.djvu/732

720 fEDESAL aapoaxBB. �I find no answer in the record for the company, but eounsel for Dunn says, in his brief submitted, that one bas becn filed at some time in the case by Hancock & West, attonieys for the railroad com- pany ; but, as shown above, it is immaterial for this decision. Let a judgment and a finding of "not gailty" be entered in favor of de- fendant Dunn, with costs. ���EUNDEL V. LiPB Ass'n OF AmEETCA,* �{Circuit Court, K D. Louisiana. February 23, 1882.) �1. CoHPOHATioNS— Liquidation. �Creditors of a corporation, who are at the same time members of it, as 8uch membera have assented to the laws of the state of its creation, which control the settlement of its affairs, upon its being dissolved ; i. e., they have assented that the offleers by ■rtrhom, and the place and manner, shall be such as the laws of that state orovide. The eflect of this contract and assent makes the terri- torial extent pf the authority of the person charged with the liquidation co-ex- tensive with the authority of an assignee in bankruptcy, or a receiver of a national bank, springing from the territorial eflect of a national law. �G. L. Hall, A, Goldthwaite, and W. S. Relf, for Superintendent of Insurance. �Gus. A. Breaux, Harry H. Hall, and Herman B, Magruder, for Louisiana creditors. �BiLLiNGS, D, J. The defendant was a mutual life insurance corpo- tation, created and domiciled in the state of Missouri, but having agencies and transacting large business under its charter in this state and other states. Ifc bas a large fund in this state now in the hands of the receiver in this cause. The defendant Williams is a statutory officer of the state of Missouri, who, according to the charter of the corporation, upon its dissolution had vested in him all its property, and is charged with the duty of winding up its aiiairs. Relfe v. Run- die, 103 U. S. 222. The operation of this statute of Missouri, under the ruling of the supreme court, is that each policy-holder — no matter where he resides — signing the constitution of the corpora- tion, thereby assents to all of the provisions of the statutes of the state where the corporation is created, ineluding that which vests all its property in the superintendent, and gives him authority to wind �♦Reported by Joseph P. Hornor, Esq., of the New Orleans bar. ��� �