Shew v. Coon Bay Loafers, Inc.

Six good friends formed a nonprofit corporation in 1953 to hold title to certain property which they were purchasing on Hood Canal for recreational purposes for themselves and their families. The name of the corporation, Coon Bay Loafers, Inc., bespeaks something of the spirit and purpose of this enterprise. With the approval of all existing members, a new member might buy in. A member, with unanimous consent, could transfer his membership. Membership in the corporation varied, but was never more than eight nor less than six.

The first piece of property acquired, known as the Home property,…