CORPORATIONS - STOCK AND STOCKHOLDERS - TRANSFER OF STOCK - RIGHT TO VOTE

Authors

Abstract

Upon the decease of the record owner of shares of the common stock of Canal Construction Company petitioner caused the stock to be transferred upon the books of the corporation to his name as administrator. Certificates were indorsed for transfer and delivered to the distributees of the estate. The recipients of certain of the certificates neglected "to present them for transfer on the stock books of the corporation. When a contest subsequently developed over the election of directors, the petitioner attempted to vote the shares standing in his name as administrator. The ballot was rejected and petitioner brought the proceeding to review the election. Held, petitioner by delivery of the certificates duly indorsed parted with all beneficial interest in the stock and will not be permitted to vote it contrary to the wishes of the true owners although there has been no registration on the books of the corporation. In re Canal Construction Co., (Del. 1936) 182 A. 545.

Recommended Citation

CORPORATIONS - STOCK AND STOCKHOLDERS - TRANSFER OF STOCK - RIGHT TO VOTE, 34 Mich. L. Rev. 1039 (1936).
Available at: https://repository.law.umich.edu/mlr/vol34/iss7/14