Hebert v. Stansbury

MILLER, Judge.

The election of a board of directors for Lafayette Distributors, Inc., is the subject of this litigation. The issues relate to the validity of the notice given for the shareholders’ meeting; the question of an inoperative voting trusts’ validity as a proxy; the right to vote fractional shares; where a certificate is issued in more than one name, whether or not the shares are divided between the joint owners in determining fractional shares; and the usufructuary’s right to cumulate her fractional share with a fractional share over which she has a usufructuary interest.

This quo…