In re Coats
Appellate Division of the Supreme Court of the State of New York
Appeal by The Empire City Fire Insurance Company, from an order of the Supreme Court, made at the New York Special Term and entered in the office of the clerk of the county of New York on the 18th day of April, 1902, granting a peremptory writ of mandamus against The Empire City Fire Insurance Company and its acting officers and directors for the inspection of the books of the said company.
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Appeal by The Empire City Fire Insurance Company, from an order of the Supreme Court, made at the New York Special Term and entered in the office of the clerk of the county of New York on the 18th day of April, 1902, granting a peremptory writ of mandamus against The Empire City Fire Insurance Company and its acting officers and directors for the inspection of the books of the said company. The petitioner avers that he is the holder of about one-fourth of the capital stock of the Empire City Fire Insurance Company, and that from the reports of the company, which show a decrease in surplus and…
1Opinion of the Court
O’Brien, J.:
In Matter of Steinway (159 N. Y. 250) it was held that a stockholder has the right to inspect the books of his corporation at a proper time and place and for a proper purpose. This right of the stockholder we think applies as well to a fire insurance company as to any other corporation. It is, therefore, a matter of discretion whether the inspection shall be allowed or not, and this necessarily depends upon whether the facts show that the purpose is or is not a proper one. So far as appears from the petition herein, the object sought by the inspection is entirely proper. If,…
2Cases cited1 opinion
- Matter of SteinwayNew York Court of Appeals · 1899
3Cited by5 opinions
- State Ex Rel. Boldt v. St. Cloud Milk Producers' Assn.Supreme Court of Minnesota · 1937
- People ex rel. Leach v. Central Fish Co.Appellate Division of the Supreme Court of the State of New York · 1907
- State v. Superior Oil Corp.Superior Court of Delaware · 1940
- In re the Petition of CoatsAppellate Division of the Supreme Court of the State of New York · 1902
- In re ReheNew York Supreme Court · 1930