Tidewater Coal Exchange, Inc. v. American Surety Co.

Richards, J.,

delivering the opinion of the court:

It is disclosed by the declaration that Tidewater Coal Exchange, Incorporated, was a Delaware corporation until September 23, 1921, when it was dissolved under the provisions of the statute, *43but continues to exercise the powers of a body corporate for the purpose of closing its business. Said exchange, which was a nonprofit sharing corporation without any capital stock, was organized for the purpose of promoting better methods of conducting the transshipment of coal at tidewater.

Certain rules were framed by the said exchange under the power…