Court Opinion

ID: 9729510
Source: CourtListenerOpinion
Date Created: 2023-08-26 14:38:57.459178+00
Date Added: 2024-06-11T18:25:59.086414
License: Public Domain

On Motion for Rehearing: After the foregoing opinion was filed the plaintiff club filed a motion for rehearing.
Craig & Wenners for the motion.
Harkaway, Gall & Shapiro opposed.
Grimes, J.
In its motion for rehearing plaintiff relies upon RSA 294:41 which applies to stock corporations which are organized to carry on business for profit (RSA 294:1) and provides that they may sell or lease “all” their property, including good will, by a two-thirds vote of the stockholders present and voting.
RSA ch. 292, under which plaintiff was organized, provides in section 4 that voluntary corporations organized thereunder “shall have all the rights and powers and be subject to all the duties and liabilities of other similar corporations .... ” See RSA 295:7 and 7-b.
RSA 294:41 does not apply to the plaintiff for the reason among others that it is not organized for profit and is therefore not a corporation “similar” to business corporations to which RSA 294:41 applies.

Motion denied.

All concurred.