Steigerwald v. A. M. Steigerwald Co.

JUDGE SCHWARTZ

delivered the opinion of the court.

This is an appeal from an interlocutory order enjoining the defendant corporation (appellant), Alfred M. Steigerwald, its president, and Libera Y. Steigerwald, its secretary-treasurer, from diverting any corporate funds to Alfred M. Steigerwald other than compensation determined and approved by its board of directors.

The principal question is the validity of the appointment by the president of an executive committee composed of nondirectors and the action of that committee in providing compensation for the president in addition to that fixed by…