In re the Election of Directors of The Rapid Transit Ferry Co.
New York Supreme Court
Motion to set aside the election of directors at the election of 1895 and 1896, on the ground that a majority of the stock of the corporation was not represented in person or by proxy.
1Opinion of the CourtGaynor, J.
By general law, the stockholders present in person or by proxy at a meeting of stockholders constitute a quorum. The General Corporation Law, however, allows the directors to change this by by-law, and fix the amount of stock which must be represented in order to make a quorum. § 11, " In this company the following by-law was passed, viz.:' “A majority of the stock present in person or by proxy at any meeting of the stockholders shall constitute a quorum.” It is without any punctuation marks. Unless to establish á quorum different to that which the general law makes, this by-law could, have…
2Cited by1 opinion
- Hill v. TownMichigan Supreme Court · 1912