Midvale Mining & Mfg. Co. v. Dutron Corp‪.‬

1 The question presented on appeal is whether officers and directors of a corporation are personally liable for corporate debts incurred after failure of the corporation to file its annual tax return, but before an order suspending corporate privileges is issued. Midvale Mining and Manufacturing Co., appellant, contends that Dutron Corporation, appellee, became a nonentity on December 31, 1974, when it failed to file its annual tax return and that its officers and directors became personally liable for debts contracted after that date. Appellees argue, however, that liability could not accrue until an order suspending the corporations right to do business in Oklahoma was issued by the Oklahoma Tax Commission. Both parties rely on 68 O.S. 1971 § 1212 (c) to support their arguments.