U.S. Supreme Court, (June 04, 1928)
Docket number: 343
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U.S. Court of Appeals for the 4th Cir. - Smith Setzer & Sons, Incorporated; Neil Setzer, Individually and as President and Shareholder of Smith Setzer & Sons, Incorporated, Plaintiffs-Appellants, v. South Carolina Procurement Review Panel; Hugh Leatherman; Grady L. Patterson, Jr.; Glenn F. Mcconnell; Luther L. Taylor, Jr.; Jules J. Hesse; Roy E. Moss; Kiffen R. Nanney; Gus J. Roberts; Carol Baughman, as Officers and Members of the South Carolina Procurement Review Panel; Carroll A. Campbell, Jr., Governor; Grady L. Patterson, Jr.; Earle E. Morris, Jr.; James W. Waddell, Jr.; Robert N. Mclellan; Jesse A. Coles, Jr., as Officersand Members of the South Carolina Budget and Control Board, Division of General Services; South Carolina Budget and Control Board, a Division of General Services; James J. Forth, Chief Procurement Officer for the South Carolina Budget and Control Board, a Division of General Services, Defendants-Appellees., 20 F.3d 1311 (4th Cir. 1994) Incorporated; Neil Setzer, Individually and as President and Shareholder of Smith Setzer & Sons, Incorporated, Plaintiffs-Appellants, v. South Carolina Procurement Review Panel; Hugh Leatherman; Grady L. Patterson, Jr.; Glenn F. Mcconnell; Luther L. Taylor, Jr.; Jules J. Hesse; Roy E. Moss; Kiffen R. Nanney; Gus J. Roberts; Carol Baughman, as Officers and Members of the South Carolina Procurement Review Panel; Carroll A. Campbell, Jr., Governor; Grady L. Patterson, Jr.; Earle E. Morris, Jr.; James W. Waddell, Jr.; Robert N. Mclellan; Jesse A. Coles, Jr., as Officersand Members of the South Carolina Budget and Control Board, Division of General Services; South Carolina Budget and Control Board, a Division of General Services; James J. Forth, Chief Procurement Officer for the South Carolina Budget and Control Board, a Division of General Services, Defendants-Appellees.
Constitution of the United States (Annotated) - Section 2: Interstate Comity
U.S. Supreme Court - Metropolitan Life Ins. Co. v. Ward, 470 U.S. 869 (1985)
U.S. Supreme Court HEMPHILL v. ORLOFF, 277 U.S. 537 (1928)
[Page 277 U.S. 537, 546] The trustees and shareholders are exempted from personal liability. [Footnote 1] [Page 277 U.S. 537, 551] ginia, 8 Wall. 168; Hatch v. Reardon, 204 U.S. 152, 162, 27 S. Ct. 188, 9 Ann. Cas. 736; Blumenstock Bros. v. Curtis Pub. Co., 252 U.S. 436, 443, 40 S. Ct. 385. What we have already said shows plainly enough the insubstantial nature of the suggestion that the questioned statutes deprive the Trust, its trustees or members, of property without due process of law. The judgment of the court below must be affirmed. Affirmed. Footnotes Footnote 1 'No recourse shall at any time be had under or upon any note, bond, contract, instrument, certificate, undertaking, obligation, covenant, or agreement issued or executed by the trustees under or pursuant to the terms of this agreement or in managing the trust estate, or by the executive committee or any member thereof, or by any officer or agent of the trustees, or by reason of anything done or omitted to be done by them or any of them against the trustees individually or against the members of the committee or against any such officer or agent or against any shareholder, or the holder of any other security issued by the trustees, either directly or indirectly, by legal or equitable proceeding, or by virtue of any suit or otherwise, except only to compel the proper application or distribution of the trust estate, it being expressly understood and agreed that this agreement and all obligations and instruments executed thereunder are executed pursuant hereto by the trustees and any acts done or omitted to be done by them are solely the obligations, instruments, acts and omissions of or in (folio 204) respect of the trust estate and that all the obligations, instruments, liabilities, covenants and agreements, acts and omissions of the trustees as trustees shall be enforced against and be satisfied out of the trust estate only, or such part thereof as shall, under the terms and provisions of this agreement, be liable for or chargeable therewith, and all personal and individual liability of the trustees, except as above stated, and of the members of the executive committee, and all officers and agents, and of the shareholders and all beneficiaries of the trust, are hereby expressly waived and negatived. The trustees and their agents are not authorized to contract any debt or do anything which will charge the shareholders or bind them personally.'