Brizzolara v. Sherwood Memorial Park, Inc.

OPINION BY Justice LAWRENCE L. KOONTZ, JR.

In this appeal, we consider whether the trial court properly granted summary judgment to one of two groups vying for control of a not-for-profit, nonstock corporation that owns and operates a cemetery in the City of Salem. The focus of the dispute between the groups and the principal issue presented in this appeal concerns the authority of the directors of the corporation to retire certain debt of the corporation in the form of debentures unless the holders of the debentures, who were also members of the corporation, consented to payment of the debt…