Nelms v. Weaver

OPINION

HARBISON, Justice.

Appellants brought this action seeking a declaratory judgment that stock certificates in Security Bank & Trust Company held by Mrs. Nancy Nelms Macintosh Wilson were validly and properly issued to her. Appellants sought to require that the stock certificates be executed by T.J. Weaver, Jr., Chairman of the Board of the corporation. Counterclaims were brought against appellants by Mr. Weaver individually and by the corporation to cancel the certificates and to obtain a declaration that they had been improperly issued in violation of both a stockholders’ resolution and…