Miles

Miles v. Woodward

Good Law
115 Cal. 308·1896 Cal. LEXIS 1011·46 P. 1076
Supreme Court of CaliforniaDecember 14, 1896S. F. No. 367California2,129 words

Opinion

Lead Opinion

Henshaw, J.

Appeals from the judgment and from the order denying a new trial.

Plaintiff, a stockholder of the Bodie Consolidated Mining Compan}', a corporation organized and existing under the laws of the state of California, brought this action against defendant, a director of said corporation, to recover one thousand dollars liquidated damages for a violation of the provisions of the act of April 23,1880. (Stats. 1880, p. 400.) The violation complained of was the alleged failure, refusal, and neglect of the directors of the corporation to make, or cause to be made and posted and filed the weekly reports of the superintendent, as required by the act.

1. It is first contended that the act in question is unconstitutional for the reason that it operates only upon domestic corporations, and thereby allows foreign corporations to transact business within this state upon more favorable conditions than are prescribed by law to similar corporations organized under the laws of this *311 state, in violation of article XII, section 15, of the constitution. But the act, as its title declares, is an act designed for the “ better protection of the stockholders in corporations formed under the laws of…

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