Schoenburg v. Klapperich

The following- opinion was filed October 7, 1941:

Martin, J.

This appeal presents the single question: Are the incorporators and stockholders of a stock co-operative association, incorporated under ch. 185, Stats., subject to the provisions of sec. 180.06 (4), Stats.?

Sec. 180.06 (4), Stats., forbids a corporation to transact business with any others than its members until one half of its capital stock shall have been subscribed and one fifth of its authorized capital actually paid in. If .Associated Buyers Co-operative, Inc., is subject to the provisions of sec. 180.06 (4) the defendants are…