In re the Judicial Settlement of the Intermediate Account of Proceedings of Starbuck

Decree of the Surrogate’s Court of Westchester county unanimously affirmed, without costs. Section 66 of the Stock Corporation Law does not create a hen in favor of the corporation. (Strahmann v. Yorkville Bank, 148 App. Div. 8; affd., 210 N. Y. 536.) The transfer mentioned in the statute is a transfer in fact, and not one created by operation of law, as in case of death. Upon the death of the stockholder, his personal representative becomes the owner of the stock and entitled to dividends, and to have such ownership noted on the books of the corporation. In a case such as this, the…