Townsend v. Delaware Glue Co.

Citations

• 12 Del. Ch. 25
• 103 A. 576
• 1918 Del. Ch. LEXIS 9

Syllabus

<p>Where a corporation has been dissolved for nonpayment of a franchise tax, the corporation is the only proper defendant in a suit brought within three years after its dissolution to foreclose a mortgage made by it, and its directors are not proper parties to the suit.</p> <p>Section 40 of the General Corporation Law applies, and Sections 39, 41 and 42 do not.</p>