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U. S. INDUSTRIES, INC. v. GREGG

No. 75-2177.

540 F.2d 142 (1976)

U. S. INDUSTRIES, INC., a corporation, and Diversacon Industries, Inc., a corporation v. F. Browne GREGG, Appellant.

United States Court of Appeals, Third Circuit.

Decided July 19, 1976.

Attorney(s) appearing for the Case

Thomas S. Lodge, Connolly, Bove & Lodge, Wilmington, Del., for appellant; E. Earle Zehmer, Bedell, Bedell, Dittmar & Zehmer, Jacksonville, Fla., of counsel.

Morris, Nichols, Arsht & Tunnell, David A. Drexler, Wilmington, Del., for appellees; William F. Sondericker, Judith S. Kaye, Olwine, Connelly, Chase, O'Donnell & Weyher, New York City, of counsel.

Before ALDISERT, KALODNER and WEIS, Circuit Judges.

OPINION OF THE COURT

ALDISERT, Circuit Judge.

Unlike 49 other states that enacted the Uniform Commercial Code, Delaware did not enact § 8-317(1)1 which requires the actual seizure of stock certificates to effect a valid attachment or levy upon an interest in corporate stock. Rather, Delaware continued in force § 1692 of its General Corporation Law which provides that the situs of ownership...

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