Menhennick Family Trust v. Timothy Menhennick

*743 *506 This case presents a question of first impression, namely whether MCL 450.1421(6) precludes voiding a shareholder's proxy on the basis of incompetence when the shareholder had not been declared incompetent before the proxy was given. We conclude that it does not.

Plaintiff Harvey Oil Company, Inc., is a home-heating fuel business that primarily sells fuel oil and propane. It also operates convenience stores with gas stations. When created, Harvey Oil issued 130 shares of stock, which were jointly owned by Alva and Ilean Menhennick. Their children, Gary, Dennis, Paul, Patrick, and Timothy,…