Catherwood v. Guarantee Trust & Safe Deposit Co.

Citations

• 252 Pa. 466
• 97 A. 703
• 1916 Pa. LEXIS 640

Syllabus

<p>Corporations — Deceased stockholders — Decedents’ estates — Distribution of slock without order of court — Transfer to distributees —Mandamus—Act of February 1881,P. L. 70.</p> <p>Where corporate stock passing under a -will has been distributed to a legatee by the executor by delivery of the certificate duly endorsed, it is the duty of the transfer agent upon request to transfer the stock on the books of the company to such legatee, although the distribution has been made without order of court, and within a year after decedent’s death, and although no refunding bond has been taken by the executor; the performance of this duty may be compelled by mandamus, if there is no allegation or proof that the executor is insolvent or that the transfer will prejudice creditors or legatees.</p>