Forsyth v. Selma Mines Co.

Plaintiffs brought this action as stockholders of the defendant company, a Utah corporation, to enjoin the latter and its officers, codefendants,, from collecting an assessment levied against its outstanding stock. They claim that the levy is in excess of the amount authorized by law. The complaint alleges that the assessment is null and void for the following reasons:

“(a) That the capital stock held and owned by the plaintiffs as aforesaid, and all other stockholders of said defendant corporation, is fully paid-up stock, and that the par value of said stock is five cents per share, and that…