Malone v. Armor Insulating Co.

The petition as amended did not entitle the complainant to a decree against the corporation for payment of cash dividends; nor did it allege a state of facts justifying appointment of a receiver. It was not error to sustain the general demurrer.

No. 13544. NOVEMBER 13, 1940.

John N. Malone Jr. brought suit against Armor Insulating Company, a corporation chartered by the superior court on January 25, 1935. The petition alleges, that Malone is a minority stockholder; that he owns both common and preferred stock in the corporation, the preferred stock stating that dividends when and as declared by…