Keller v. Wilson Co. Inc.

Layton, C. J.,

delivering the opinion of the Court: ^ The question presented is concerned, generally, with the nature and extent of the right of a holder of cumulative preferred stock in a going corporation, as to which dividends have accrued through lapse of time. Specifically, the questions to be determined arise under the amendment of Section 26 of the General Corporation Law (Delaware Laws, Vol. 38, Ch. 91, § 3) and the questions are, first, whether the State, under its reserved power may authorize a corporation created by it at a time when the law, as then existing, did not permit the…