Zollinger Ex Rel. Electrical & Communication Systems, Inc. v. Carrol

WALTERS, Justice.

C. Jeffrey Zollinger appeals from the district court’s summary judgment order dismissing his claims against William P. Carrol and Mary Lou Truxal on equitable grounds. We affirm the decision of the district court.

Zollinger, Carrol and Truxal are shareholders in Electrical and Communication Systems, Inc. (ECSI). In 1994, Zollinger purchased shares of ECSI and became a director of the corporation. Shortly thereafter, he agreed to personally guarantee a line of credit for the corporation with First Security Bank and gave a second personal guarantee on behalf of ECSI to secure a…