Taylor v. Barrand

In this stockholder’s derivative action, the defendant Manufacturers Trading Corporation moves to compel the plaintiff to post security under section 61-b of the General Corporation Law, as amended by chapter 869 of the Laws of 1945. The action was pending at the time of the enactment of section 61-b and, except for the 1945 amendment, falls within the decision of the Court of Appeals in Shielcrawt v. Moffett *434(294 N. Y. 180) holding that section 61-b does not apply to actions pending when it went into effect. This defendant’s point on the present motion is that the 1945 amendment makes…