McKenzie v. Guaranteed Bond & Mortgage Co.

It is conceded by counsel for both parties that the only point at issue is whether the language in the original charter granted to the corporation, with reference to applying “for amendments to this charter by a vote of the majority of the stock outstanding at the time,” authorized the amendment increasing the capital stock of the company, as set forth in the statement of facts. It is conceded that “the general rule of law is that such a vital, radical, and fundamental amendment as is here involved must receive the unanimous consent of the stockholders; provided there is no provision in the…