In re Timen

This proceeding is brought under section 32 of the General Corporation Law to set aside the election of three directors upon the ground that certain persons were improperly allowed to vote as stockholders whose votes affected the result. The objection to the receipt of these votes is made because the voters did not “ appear on the transfer books of the corporation as stockholders of the corporation.” This would not militate against their being stockholders. Transferees of stock only appear upon the transfer books as stockholders. Subscribers to the original capital stock do not have their…