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KELLER ST. DEV. CO. v. DEPT. OF INVESTMENT

Docket No. 21365.

227 Cal.App.2d 760 (1964)

39 Cal. Rptr. 44

KELLER STREET DEVELOPMENT COMPANY, Plaintiff and Appellant, v. DEPARTMENT OF INVESTMENT, DIVISION OF CORPORATIONS, Defendant and Respondent.

Court of Appeals of California, First District, Division Three.

June 12, 1964.

Attorney(s) appearing for the Case

J. Albert Hutchinson for Plaintiff and Appellant.

Stanley Mosk, Attorney General, Victor Griffith and Robert E. Murphy, Deputy Attorneys General, for Defendant and Respondent.

DEVINE, J.

Keller Street Development Company held a stockholders' meeting at which its articles of incorporation purportedly were amended to provide that its shares of stock should be assessable. The minority stockholders protested that this could not be done without the approval of the Commissioner of Corporations. The company contended that a permit was not necessary, but, reserving this contention, applied to the commissioner for a permit. The commissioner held...

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