Russell v. Citizens' Ice Co.

Citations

• 118 La. 442
• 43 So. 44
• 1907 La. LEXIS 740

Syllabus

<p>1. Corporations — Receivers—Appointment.</p> <p>A receiver will not be appointed at the instance of a stockholder after the affairs of the corporation have been liquidated by commissioners appointed in accordance with the charter. The right of the majority of the stockholders to have such a liquidation is specially reserved. See Act No. 159, p. 312, of 189S, § 1, subd. 1.</p> <p>[Ed. Note. — For cases in point, see Cent. Dig. voi. 12, Corporations, §§ 2461-2464.]</p> <p>2. Same — Rights oe Stockholder.</p> <p>A stockholder has full and adequate remedy through action in his own name against such commissioners for an accounting or for damages for alleged misuse of the corporate property or funds intrusted to them. Marcuse v. Gullett Gin Co., 27 South. 846, 52 La. Ann. 1383, reaffirmed.</p> <p>(Syllabus by the Court.)</p>