Matarazzo v. Segall

*177OPINION OF THE COURT

David Friedman, J.

Section 630 of the Business Corporation Law makes the 10 largest shareholders of closely held corporations personally liable for the payment of contributions to welfare and pension funds due its employees. Before an action to impose such personal liability may be commenced a judgment for the contributions must be obtained against the corporation with execution on the judgment returned unsatisfied. This action is brought against a large shareholder in order to collect on a judgment obtained against the corporation. The issue raised by the motion pending…