Woodward v. Quigley

*1081Stuart, J.

— The corporate life of the Telegrapb-Herald, a newspaper in Dubuque, Iowa, was due to expire December 31, 1961. At a special stockholders’ meeting on June 9, 1960, a resolution was duly adopted by a majority of all the stockholders extending the corporate existence perpetually. Of the 1200 shares of stock outstanding all voted in favor of the renewal except the 379 shares owned by defendant. Section 491.25 of the Code provides in part:

“In all cases of renewal, those stockholders voting for such renewal must purchase at its real value the stock voted against such renewal, and shall…