Capital National Bank v. S. E. Realty Corp.

COULSON, Justice.

This action for a declaratory judgment requires the construction of Tex.Bus.Corp. Act, Ann. art. 4.09(A), (1956), V.A.T.S., as it effects the articles of incorporation of two domestic corporations, S. E. Realty Corp. and Texberry Container Corp. The stockholders of the two corporations are substantially the same, as are the articles of incorporation in their pertinent parts. The articles provide for two classes of stock. The class A stock is common voting stock in the corporation. The class B shares are non-voting, non-cumulative, and subject to redemption. The articles do…