TREVATHAN v. RINGGOLD-NOLAND FOUNDATION, INC.

No. 5-4020.

410 S.W.2d 132 (1967)

Jared E. TREVATHAN et al., Appellants, v. RINGGOLD-NOLAND FOUNDATION, INC., Appellee.

Supreme Court of Arkansas.

January 9, 1967.


Attorney(s) appearing for the Case

Erwin & Bengel, Newport, for appellants.

Murphy & Arnold, Batesville, for appellee.


JONES, Justice.

This suit involves the disposition of the assets of a charitable corporation under the cy pres doctrine. The directors of the corporation filed petition in Chancery seeking authority to sell the corporate property and to apply the proceeds to the erection of an addition to a public library not previously contemplated. Some of the original donors and incorporators filed a response opposing the sale and proposed use of the funds. The trial court...

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