§5445
2 cases·2 cited
Statute Text — 26 U.S.C. §5445
Statute text not available for this section.
2 Citing Cases
mulative, before it could pay any dividends with respect to the ELC common stock. We find that the preferential dividend provision involved in Erie Lighting Co. v. Commissioner, supra, was not mandatory,26 see 12 Fletcher Cyclopedia of Corporations, sec. 5445 (perm. ed. 1986), and that it is materially different from the mandatory dividend provision involved in the present case. In so finding, we have not only relied on and construed the language of the preferential dividend provision as set for
umulative, before it could pay any dividends with respect to the ELC common stock. We find that the preferential dividend provision involved in Erie Lighting Co. v. Commissioner, supra, was not mandatory, see 12 Fletcher Cyclopedia of Corporations, sec. 5445 (perm. ed. 1986), and that it is materially different from the mandatory dividend provision involved in the present case. In so finding, we have not only relied on and construed the language of the preferential dividend provision as set fort