Rensselaer County Agricultural & Horticultural Society v. Weatherwax

By section 201 of Membership Corporations Law (Cons. Laws ch. 35), respondent was entitled to condemn real property needed for its corporate purposes. The question is whether it has been deprived of that right by section 206 of the Membership Corporations Law * because it has capital stock. For all that appears the shares of stock were issued to raise money for corporate purposes only and do not entitle the owners to share in the corporate profits. The distinction between the two classes of capital stock mentioned in section 208 seems plain. Any agricultural or horticultural corporation may…