Norman v. Jerich Corporation

This is a suit to compel defendants to transfer Jerich Corporation common stock from Jerold David Norman to plaintiff and to reflect the transfer on the books of Jerich Corporation. Plaintiff appeals from a decree dismissing her complaint.

The trial court denied plaintiff’s requested relief on the ground that the transfer violated one of the bylaws of the defendant corporation and thus made operative OES 78.2040, which provides:

“Unless noted conspicuously on the security a restriction on transfer imposed by the issuer even though otherwise lawful is ineffective except against a person with…