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J. A. R. CONSTR. CO. v. DORSKIND

233 A.D.2d 423 (1996)

650 N.Y.S.2d 268

J. A. R. Construction Company, Respondent, v. Robert Dorskind et al., Defendants, and Lazar, Levine & Company, Appellant

Appellate Division of the Supreme Court of the State of New York, Second Department.

November 18, 1996

Ordered that the order is affirmed, with costs.

Contrary to the appellant's contention, the plaintiff, as a shareholder of Digital Metcom Inc. (hereinafter the corporation), has standing to maintain this shareholder's derivative action on behalf of the corporation. Pursuant to Uniform Commercial Code article 9, the corporation's transfer of its "general intangibles" to Marine Midland Bank as collateral for certain loans did not confer on Marine Midland Bank a security...

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