Kelly v. Fargo Mercantile Co.

Citations

• 16 S.D. 73
• 91 N.W. 350
• 1902 S.D. LEXIS 80

Syllabus

<p>Under Comp. Laws, § 5015, providing that a receiver of corporate property can be appointed only in case the corporation is insolvent, or is in imminent danger of insolvency, or has béen dissolved, or has forfeited its corporate rights, a receiver pendente lite cannot be appointed where the complaint states that the corporation has been transacting a successful business, the proof does not show danger of insolvency, and •plaintiff’s rights as a stockholder are in dispute in pending litigation with a third party.</p>