(Download) "Matter Election Officers and Directors Femode Foundations" by Supreme Court of New York ~ eBook PDF Kindle ePub Free
eBook details
- Title: Matter Election Officers and Directors Femode Foundations
- Author : Supreme Court of New York
- Release Date : January 07, 1956
- Genre: Law,Books,Professional & Technical,
- Pages : * pages
- Size : 72 KB
Description
The petition and the affidavits submitted in support thereof raise triable issues as to the sufficiency of the notice, dated
September 24, 1955, calling a special meeting of the board of directors, the legality of the meeting ultimately held, pursuant
thereto, and the election that took place thereat on October 28, 1955. The petitioners are entitled to a hearing under section
25 of the General Corporation Law at which they may offer proof of the statements contained in their petition and affidavits. The allegations, if true, indicate that the present officers were not legally elected. In this statutory proceeding, the
fact of the alleged stockholders' agreement, whether valid or not and whether executed or not, is not before the court. The
only issues are the status of the record stockholders and of the directors who purported to act at the last election in question.
Accordingly, the order of Special Term should be reversed and the proceeding remanded for the court to take proof of the allegations
set forth in the moving papers.