BF Rich & Co., Inc. v. Gray

JACOBS, Justice.

Two minor children, who reside in Connecticut, own 49% of the stock of a Delaware corporation. The father of those minor children voted that stock to gain operational control of that corporation without having first been appointed as guardian of his children’s estate (property). A Connecticut statute requires the appointment of a guardian of a minor’s estate where a parent receives or uses property of the minor child having a value exceeding $10,000. 1 The value of the minor children’s shares exceeds $10,000. The sole question of substance on this appeal is whether the…