Borden V. Bordon Case Summary

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In the case of Borden v. Baldwin, (Bordon, 1971) the court makes the distinction between the distributions made to members while the corporation is still in operation, and distributions that are made upon its dissolution. In this case, a non-profit corporation created for hunting sold its property and moved its location. The members had agreed that the proceeds of the sale would be used to pay all of its debts, and that the remaining proceeds after debt elimination was to be put in a trust to be used to support the operations for three years. After the three year period, each member was to have the option to end the membership and withdraw his share. After three years, during which the hunt club acquired new members, the new members did not

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