New Orleans Auxiliary Sanitary Ass'n in Liquidation

Citations

• 105 La. 172

Syllabus

<p>Syllabus.</p> <p>1. The creditors of a private corporation, established for a public purpose, are entitled to be paid from the proceeds of the property of the corporation, and the claim that such property cannot be seized or otherwise made available in satisfaction of debts due by the corporation, upon the ground that, being the property of a corporation established for a public purpose, it must be regarded as dedicated to public use and exempt from seizure, cannot be sustained.</p> <p>2. Whether, in the particular case before the court, the title to the residuum of such property, after the payment of the debts of the corporation and the charges and expenses of liquidation, vests in the public or in the members of the corporation is not determined.</p> <p>3. Upon the case presented, the putting of the corporation in liquidation and the selection of the liquidating commissioners by the members in general meeting convened were competent acts and were properly recognized and confirmed by the District Court. .</p>