Matter of Timmis
New York Court of Appeals
Appeal from an order of the Appellate Division of the Supreme Court in the second judicial department, entered July 29, 1910, which affirmed an order of Special Term directing an appraisal of the stock of the petitioner pursuant to section 17 of article 2 of the Stock Corporation Law. The Sackett & Wilhelms Company is a domestic corporation organized to carry on the business of lithographing and printing.
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Appeal from an order of the Appellate Division of the Supreme Court in the second judicial department, entered July 29, 1910, which affirmed an order of Special Term directing an appraisal of the stock of the petitioner pursuant to section 17 of article 2 of the Stock Corporation Law. The Sackett & Wilhelms Company is a domestic corporation organized to carry on the business of lithographing and printing. In August, 1909, at a meeting of its stockholders, held pursuant to notice, a resolution was adopted by the votes of the holders of more than two-thirds of the capital stock, authorizing the…
1Opinion of the CourtVann, J.
This appeal involves the construction of sections sixteen and seventeen of the Stock Corporation Law. Section sixteen, which is entitled “ Voluntary sale of franchise and property,” provides that “ A stock corporation * * * with the consent of two-thirds of its stock, may sell and convey its property, rights, privileges and franchises, or any interest therein or any part thereof to a domestic corporation,' engaged in a business of the same general character * * * and such sale and conveyance shall, in case of a sale to a domestic corporation, vest the rights, property and franchises thereby…
2Cases cited2 opinions
- People v. . BallardNew York Court of Appeals · 1892
- Abbot v. American Hard Rubber Co.New York Supreme Court · 1861
3Cited by87 opinions
- Armstrong v. Marathon Oil Co.Ohio Supreme Court · 1987
- Matter of FultonNew York Court of Appeals · 1931
- Beloff v. Consolidated Edison Co. of N.Y.New York Court of Appeals · 1949
- Anderson v. International Minerals & Chemical Corp.New York Court of Appeals · 1946
- Mertz v. Guaranty Trust Co.New York Court of Appeals · 1928
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