Buss

Plaintiffs Frances M. Buss as Executrix of the Last Will and Testament of Bichard C. Buss, deceased and C. U. Martin by and through John 0. Martin, his attorney in fact, appeal from an adverse judgment entered on an order sustaining defendants’ demurrer to plaintiffs' first amended complaint without leave to amend.

The present action is brought under sections 4650 to 4661 of the Corporations Code. The first amended complaint (hereafter for convenience called “complaint”) alleges in substance as follows: That defendant J. 0. Martin Co., Inc. (Corporation) is a California corporation with its principal place of business in San Francisco; that Richard 0. Buss (Buss) and C. U. Martin are now, and for more than five years next preceding the filing of the complaint have been, the record holders and owners of more than 33% percent of the outstanding shares of said corporation; that defendant Charles M. Martin (Charles) is, and at all times mentioned was, the holder of more than 50 percent of the outstanding shares of the Corporation; and that the Corporation is not subject to the Bank Act, Public Utilities Act or Building and Loan Association Act referred to in section 4650.

It is…