Securities Law Commons^™

Corporations - Stock And Stockholders - Transfer Of Stock - Right To Vote

Michigan Law Review

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 …