GARNISHMENT OF CORPORATE STOCK

Authors

Walter B. Connolly, University of Michigan Law School

Abstract

Ancillary to an action on a foreign judgment obtained against defendant, plaintiff started a garnishment proceeding in Minnesota against certain domestic corporations including the Weisman Holding Co. Officers of the Weisman Holding Co. refused to make disclosures of the stock ownership of the principal defendant on the grounds that the plaintiff had no right to garnish defendant's shares of stock after the certificates for those shares had been delivered. Held, that the disclosure should be made because shares of corporate stock are "personalty" in possession of the corporation and subject to garnishment as the property of the shareholder, even where the stock certificates have been delivered. Wackerbarth v. Weisman, 207 Minn. 507, 292 N. W. 214 (1940).

Recommended Citation

Walter B. Connolly, GARNISHMENT OF CORPORATE STOCK, 39 Mich. L. Rev. 482 (1941).
Available at: https://repository.law.umich.edu/mlr/vol39/iss3/15