John Hunter and Laura Snodsmith v. Old Ben Coal Company

FLAUM, Circuit Judge.

The plaintiffs, John Hunter and Laura Snodsmith, filed suit on May 6, 1985 seeking specific performance of a contract between Old Ben Coal Company (“Old Ben”), the defendant, and the Dalgren Moores Prairie Coal Association (“DMPCA”), an Illinois not-for-profit corporation, plaintiffs were “members” (shareholders) of DMPCA. The district court held that the plaintiffs’ suit was time-barred under the corporate survival statute set forth in the Illinois General Not For Profit Corporation Act of 1943. 2 Ill.Rev.Stat. ch. 32, para. 163a61 (Smith-Hurd 1970). 3 Because we find…