Notes On Formation And Organization of Business Corporations Under the Laws of C
Notes On Formation And Organization of Business Corporations Under the Laws of C
James Stark Bennett
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, 67 Cal. 532; Krause v. Durbrow, 127 Cal. 681; Smith v. S. F. & N. P. Ry. Co. , 115 Cal. 590. Royal Con. Mining Co. V. Royal Con. Mines, 157 Cal. 737. 7 Spier v. Baker, 120 Cal. 375. Bergevin v. Curtz, 127 Cal. 86. St. Helena v. Merriam, 171 Cal. 134. 8 Civil Code, Sections 312, 378; Middleton v. Arastraville Mining Co. , 146 Cal. 224. Voting and Representation 53 rule, however, should not be so construed as to permit stockholders of record but in fact holding in trust for the corporation itse...lf to vote the shares of stock so held. 9 All elections must be by ballot and every stockholder has the right to vote for as many persons as there are directors to be elected, or to cumulate his shares and give one candidate as many votes as the number of directors multiplied by the number of his shares of stock shall equal, or to distribute them upon the same principle among as many candidates as he shall think fit and those receiving the highest number of votes shall be declared elected. 10 It necessarily fol- lows that all the directors must be elected on one ballot.
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