Eisfeld v. Kenworth
Supreme Court of Iowa
Appeal from Louisa District Court. The plaintiff is a judgment creditor of a corporation known as The Co-operative Store of Morning Sun and vicinity. The defendants are stockholders. This action is brought to subject the property of the defendants, as such stockholders, to the payment of the judgment.
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Appeal from Louisa District Court. The plaintiff is a judgment creditor of a corporation known as The Co-operative Store of Morning Sun and vicinity. The defendants are stockholders. This action is brought to subject the property of the defendants, as such stockholders, to the payment of the judgment. The petition avers as the ground of such liability that the articles of incorporation were dated April 7, 1874, and purported to be adopted under chapter 52, article 1 of the Bevision of 1860, which was not then, in force; also that the defendants failed to comply with the law in relation to…
1Opinion of the CourtAdams, J.
I. The fact that the articles purport to be adopted under the Eevision of 1860 we deem immaterial. If the corporation complied with the statute in force, and provided for the exemption of private property, it would be exempt.
*390II. The petition avers a failure to file the articles of incorporation in the office of the Secretary of State. But in The First National Bank of Davenport v. Davies, 43 Iowa, 424 (436), this was held by a majority of the court to be insufficient to render the stockholders individually liable.
III. If they are held liable in this case they must be held under the averment…
2Cases cited4 opinions
- State v. BrandtSupreme Court of Iowa · 1875
- State v. SmithSupreme Court of Iowa · 1877
- First National Bank v. DaviesSupreme Court of Iowa · 1876
- Bayliss v. SwiftSupreme Court of Iowa · 1875
3Cited by13 opinions
- Seaton v. GrimmSupreme Court of Iowa · 1899
- Caster v. McClellanSupreme Court of Iowa · 1906
- Skutt v. DillavouSupreme Court of Iowa · 1944
- Haugen v. Humboldt-Kossuth Joint Drainage District No. 2Supreme Court of Iowa · 1941
- People v. LytleAppellate Division of the Supreme Court of the State of New York · 1896
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