Davis v. Adirondack Industries, Inc.

Order unanimously affirmed, with costs. Memorandum : In affirming Special Term’s denial of appellants’ motion to dismiss respondent’s petition on the ground of untimeliness (CPLR 404, subd. [a]), we are not unmindful that a procedure to enforce a shareholder’s right to receive payment for her shares (Business Corporation Law, § 623) is conditioned upon the shareholder’s adherence to the time requirements of the statute (Matter of McKinney [Bush Term. Bldgs. Co.], 306 N. Y. 207; Matter of Marcus [Macy & Co.], 297 N. Y. 38, 44). The Legislature, nevertheless, recognized that equity requires…