Farm. Un. Co-Op. v. Pali. Farm. Un.

The Farmers Union Co-operative Brokerage, a corporation, on February 18, 1942, filed an application in the Circuit Court of Minnehaha County for voluntary dissolution under the provisions of SDC 11.0902. Objections were timely filed by three stockholders alleging among other things that no legal meeting of the stockholders was held and that no resolution for the voluntary dissolution of the corporation was adopted by affirmative vote of not less than two-thirds vote of the outstanding stock of said corporation. The trial court, after an extended hearing, granted the application for…