Payette-Boise Water Users' Ass'n v. Miller

Respondent is a corporation organized and existing under the laws of the state of Idaho. Its stockholders were restricted to land owners under what was formerly known as the Boise-Payette Reclamation Project, as authorized and constructed by the reclamation department of the United States of America. No capital stock was issued, as such, nor was payment required for its capital stock other than that the stockholder should be a land owner within such reclamation district and have applied and paid for a water right from the government. Under the terms of the stock subscription contract entered…