Strope v. Albany Steel & Iron Supply Co.

Plaintiff appeals from an order and judgment of the Albany County Court that dismissed his complaint in an action to recover a penalty under section 77 of the Stock Corporation Law. The statute requires the treasurer or other fiscal officer of a corporation to make a statement under oath of all its assets and liabilities whenever stockholders owning three per centum of its shares make a written request therefor. Upon the trial of this action the demand by a qualified stockholder and the failure by the treasurer to comply therewith were established and not questioned, but it did not appear…