Patek v. California Cotton Mills

McNUTT, J., pro tem.

The plaintiff, a stockholder who had paid his proportionate share of defendant corporation’s debt, brought suit against the corporation under section 322a of the Civil Code to recover the amount thereof. Demurrer to his complaint having been sustained, he stood thereon and appeals from the consequent judgment.

Article XII, section 3, of the Constitution, and section 322 of the Civil Code, established stockholders’ liability; November 4, 1930, said section 3 was repealed and at the same time section 1 of article XII was amended to give the legislature power to prescribe the…