ECON-1006EL Study Guide - Quiz Guide: Share Capital, Delaware General Corporation Law, Derivative Suit
12 Oct 2020
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Usa: case law above, shs are free to do whatever they want with their vote, including selling them to the highest bidder. Grm: constitutes admin offence; art 405 (3) sub 2,3,6,7 stock corp act. Doctrinal theory: only membership creates entitlement to vote; this right cannot be transferred. During first 6 months after its accounting reference date. Due notice within prescribed time in the form of hard copies, electronic communication, or publications on the website and the later notification thereof. Grm: 1 x year (within 8 months of accounting year). all shs/stockholders. Usa: 1 x year (within 13 months after last agm). What happens if shs want to change bods but when it comes to the gm the directors anticipate it a month. By-laws say they"re acting as accorded but they"re not taking into account the company"s best interest! Schnell v. chris-craft industries, inc. director"s action aimed at obstructing the control of the shs over the company.
