Schlegel v. Schlegel Manufacturing Corp.

Order granting motion to dismiss complaint unanimously reversed, with costs, and motion denied, without costs. Order dismissing cross motion of plaintiff unanimously affirmed, without costs. Memorandum: This action brought by the beneficiary of a trust to compel the declaration of dividends was commenced prior to the effective date of the new Business Corporation Law and the provisions thereof do not apply. (Business Corporation Law, § 103, subd. [d].) It follows that paragraph (a) of section 626 of that law enacted to overrule Gordon v. Elliman (306 N. Y. 456; cf. Leibert v. Clapp, 13 N Y 2d…