Vercoutere

The defendant is a corporation under the laws of this state, and its certificate of incorporation was issued by the secretary of state June 6, 1890. The purposes for which the corporation is formed are stated in its articles to be “ to accumulate funds by the payment of each stockholder in periodical installments, and of investing the same for the mutual benefit and advantage of its stockholders, and for that purpose to deal in, improve, and buy and sell real property; also for the purpose of carrying on and transacting any and all kinds of real estate business in which natural per- i sons may lawfully engage.” Prior to the issuance of the certificate by the secretary of state a code of bylaws had been prepared and signed by many who afterward became stockholders, including the plaintiff, and was afterward signed by others as they became stockholders in the corporation. Article XVI of this code of by-laws is as follows: “Any stockholder desiring to surrender his stock and withdraw from the corporation may do so by giving sixty days’ notice, as provided in article XII section 2, and shall upon surrender of his stock be entitled to receive the amount due him, to be determined in the…