Dominguez Land Corp. v. Daugherty

The petitioner herein seeks by writ of mandate to compel the respondent as Commissioner of Corporations of the state of California to file and assume jurisdiction over the petitioner’s application for permission to distribute to its shareholders the sum of $415,000 out of its surplus money and property on hand, which surplus has been created by the act of the petitioner Corporation in reducing its capital stock from the sum of $2,000,000, divided into 20,000 shares of the par value of $100 each, to the sum of $1,000,000, divided into 20,000 shares of the par value of $50 each, which said…