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ALLEN v. MALVERN COUNTRY CLUB

No. 87-341.

746 S.W.2d 546 (1988)

295 Ark. 65

Dewey ALLEN, Cleve Bond, and J.C. Cole, Appellants, v. MALVERN COUNTRY CLUB, et al., Appellees.

Supreme Court of Arkansas.

March 21, 1988.

Attorney(s) appearing for the Case

James C. Cole, Malvern, for appellants.

William C. Gilliam, Mark Roberts, Chris Williams, Malvern, for appellees.

HOLT, Chief Justice.

Appellants Dewey Allen, Cleve Bond, and J.C. Cole, as members and purported stockholders of the appellee Malvern Country Club ("the Club"), brought suit to enforce stockholders' rights against the Club and certain of its officers. The Club, a nonprofit corporation, filed an answer which in part relied on the defense that nonprofit corporations as a matter of law cannot issue stock and therefore do not...

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