In re Elias
New York Supreme Court
Application to vacate the election of the respondent director of the Henry Elias Brewing Oo. Henry Elias died in 1888. The petitioner, Catherine Elias, his widow, and the respondent, Edward Schweyer, are the surviving trustees under his will. The petitioner, William Elias, is his son. The testator owned at the time of his death a majority of the stock of the Henry Elias Brewing Company.
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Application to vacate the election of the respondent director of the Henry Elias Brewing Oo. Henry Elias died in 1888. The petitioner, Catherine Elias, his widow, and the respondent, Edward Schweyer, are the surviving trustees under his will. The petitioner, William Elias, is his son. The testator owned at the time of his death a majority of the stock of the Henry Elias Brewing Company. His trustees were authorized to continué to hold this stock and were given unusual powers as to. its disposition, with the discretion either to give to the petitioner, William Elias, his share of the estate…
1Opinion of the Court
Pryor, T.
In a summary proceeding, pursuant to section 27 of the General Corporation Law, I am to determine whether the respondent Schweyer was duly elected a director of the Henry Elias Brewing Company.
H the respondent was disqualified for the office his election is a nullity (Matter of Newcomb, 42 N. Y. St. Repr. 442); and whether he was eligible depends upon the construction of section 2_0 of the Stock Corporation Law, providing that “ the directors of every stock corporation shall be chosen from the stockholders. * * * and if a director shall céase to be a stockholder his office shall…
2Cases cited2 opinions
- Chemical National Bank v. ColwellNew York Court of Appeals · 1892
- In re the North Shore Staten Island Ferry Co.New York Supreme Court · 1872
3Cited by4 opinions
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