Automatic Steel Products, Inc. v. Johnston

Layton, Judge,

delivering the opinion of the court:

The Vice Chancellor was of the opinion that the power to elect directors rested exclusively in the stockholders, with the single exception * of the filling of “vacancies” as referred to in Section 30 of the General Corporation Law, Rev.Code 1935, § 2062, which reads as follows:

“Sec. 30. Election of Directors; Filling of Vacancies:—All elections of directors shall be by ballot, unless otherwise provided in the Certificate of Incorporation. The first meeting for the election of directors at which meeting any business may be transacted shall be…