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READING COUNTRY CLUB CORP. CASE

445 Pa. 266 (1971)

Reading Country Club Corporation Case. Schlippert Appeal.

Supreme Court of Pennsylvania.

December 20, 1971.

Attorney(s) appearing for the Case

Robert M. Landis, with him Arthur E. Newbold, IV, and Dechert, Price & Rhoads, for appellant.

Murray S. Eckell, with him Eckell, Sparks & Monte, for appellee.

Before BELL, C.J., JONES, EAGEN, O'BRIEN, ROBERTS, POMEROY and BARBIERI, JJ.

OPINION BY MR. JUSTICE JONES, December 20, 1971:

The Reading Country Club Corporation was incorporated pursuant to the Nonprofit Corporation Law, Act of May 5, 1933, P.L. 289, as amended, 15 P.S. § 7001 et seq., on January 8, 1944, by twenty stockholders. By January 7, 1969, twenty-five years later, the number of stockholders had dwindled to sixteen with each stockholder owning fifty shares. On that date...

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