COLLIE v. LITTLE RIVER CO-OPERATIVE, INC.

No. 5-2991.

370 S.W.2d 62 (1963)

Jessie COLLIE et al., Appellants, v. LITTLE RIVER CO-OPERATIVE, INC., Appellee.

Supreme Court of Arkansas.

May 27, 1963.


Attorney(s) appearing for the Case

Bruce Ivy, Osceola, for appellants.

Ed B. Cook, Blytheville, for appellee.


JOHNSON, Justice.

Appellants, Jessie Collie and others, are preferred stockholders in appellee, Little River Cooperative, Inc., and are seeking an accounting and an order compelling appellee to comply with its articles of incorporation and by-laws, which provide that an amount not exceeding six percent of the par value of the fully paid up preferred stock shall be set aside for payment of dividends on such stock, which dividends shall have preference over all other...

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