Stevens Ex Rel. Park View Corp. v. Richardson

OPINION

MOORE, Justice.

A dissenting shareholder in a closely-held corporation brought this derivative suit to set aside a real estate commission the corporation paid to an officer-director-shareholder. The superior court granted summary judgment, holding that the commission was reasonable and fair to the corporation and therefore was not improper. We affirm the summary judgment on the alternative ground that the shareholders ratified the payment of the commission.

I

In 1963, two married couples, Robert and Elizabeth Stevens and Morgan and Rose-Marie Richardson, incorporated the Park View…