Case v. Murdock

WUEST, Retired Justice

(dissenting).

The trial court appointed a receiver to consider the settlement offer made by two of Hickok’s directors pending before the corporation and also to consider “all other litigation in which the corporation and its shareholders are involved.” The appointment was made under the authority of SDCL 21-21-3 which provides, in pertinent part:

[a] receiver may be appointed by the court in which an action is pending, or by the judge thereof, in the cases where a corporation ... is unable to exercise its corporate functions because of continued dissention between or…