In re the Dissolution of Milton Point Realty Co.

This is a proceeding for the voluntary dissolution of the subject corporation. The applicable part of section 103 of the General Corporation Law is as follows: ‘ ‘ Unless otherwise provided in the certificate of incorporation, if a corporation has an even number of directors who are equally divided respecting the management of its affairs, or if the votes of its stockholders are so divided that they cannot elect a board of directors, the holders of one-half of the stock entitled to vote at an election of directors may present a verified petition for dissolution of the corporation as…