McMurtray v. McMurtray

Frank Holt, Justice.

This appeal questions the chancellor’s division of property in a divorce action. Appellant argues that the chancellor erred in holding that a nonfunded account, which appellant owned in a corporation, had vested and was marital property subject to equal division. Ark. Stat. Ann. § 34-1214 (Supp. 1981) (Act 705 of 1979).

Appellant was employed in 1973 by a corporation which was partly owned by appellee’s father. In 1977, during the parties’ first marriage of 15 years, the company gave him an incentive contract by the terms of which appellant would own the equivalent of 5% of…