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Johnston v. Johnston

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61 O.G. 6160 June 30, 1964 Vol. 61, No. 39 F. LOGAN JOHNSTON, ET AL., vs. LOUIS A. JOHNSTON, ET AL. Corporation Code
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  660 OFFICIAL GETT   [o 3368 Je 0 4] VoL  No  . N JHS,   AL pettio11rs ad appllee vs. U A H,   espo1de a appela  PVE OO A; STCKHOL MEING WTIDR\Y  T STO<IOD FFE-n an aual sohode  meet validly oneed te >drawal for siab!e eason befoe the eence o a quor old be etee or dca·d f a okoe \ hos o epeses the a jy of the rpae stocs log t actualy defeat the exsence  he uorm, ren ull d vi al fuher ransaos ake up ar uc \Vhdraãa, inld te eleio of ev es of direcos and oer o e corpoaton 2 .  TBy he \\e f autoy a aory o h voes actual   ede, lhog soe o e sooler or embers \\o ae re11t  reuse o ¥ote ad herefore he aoy of he oe cast ay be ess ta a najoy o e eons eet o s epreseed ths  t eory that Uoe >o hae a opouy  vote ad eai tou hey ae a aoiy o he sk 11 be e o qiece  te reult of te oe ally ca (p 9 lecher orpraos, ol  n the abene o anaory provi to te cotra i e hate'  y \, he o at a orpoate 1eei may be ee by balot or iv v or y ho o had  81, d) 3   .  ; IITY   APRTE.ororate  meetg shal be de h airess a gd fa1 oards  \ v ho e ee  a  nd i �h a \:   nab h1  x  \  l]> n 1ng be   n he oin an1ea? a ad ri an   r ly   11 1�1<i h f  p P li n ! r h eo u  ã· nl dpacnh pl H l voe o  nng  G l',  ) Prlae ay patc o al  he n o h a ad th ing oo  ,,   1 1  n g   } oy  the la\ ootn p  id - n    T  C E PE  CKIO ROL R BY PX  CR  I: TEe all te holder ae ree eer  en or by oy dur te chole eetn \ ae  hee s  e oie is e y er presee ad aecece 8 S 2 APA fom a juget o t Cout o Fs sace of Zaboaga Cty oteo  he a ae statd  te opo of t Co San Jit, Afrc & Bedco o poets a appellat bos Pl Lu) O o etto a appls. A   the Cout of Fst se o aoaga pettoe· apl F oga lto e  to a Felisa P ohsto e a petto o quo \vaato alegg ta t Ve elete a to  te tokhodes eet o te ohto e    y 2 1 a  I   t c e > f  SPMBR 27 965 OFFCIA GAZTTE \ in turn lctd spctivly as psidnt and gna mang vic-psidnt and assistnt gnal manag and sctary-trsur i th mting of th board o dirctos hld on th sam dat and ping in th min for th oust of th rspondnts-appllnts ouis A Johnston, Elizabtl1 J An t and osario S. Johnston fon th positions of psidnt and gnal manag vicprsidnt and assistnt gnl managr nd sctatas of th Johnston Lmbr Co, Inc Th pplnt ld th answ avri11g tht tl1 ws no lction on July 20, 963 11d claiming tht th ar occupying th ocs n qstion bcaus thy ·r r-lctd as dictors in th gula annul stockholdrs tg on April 2 963 nd n turn rlctd s psidnt ad gnl mng, vc-prsidnt and assistnt nal mnag nd scrtry-as in th mting of th ord of dirctor� hld on th sam dt. Aft trial tl1 low court ndrd jdgmnt th dispositiv portion of Vhic rads thus: Wherefore,  in vew  he foreging, judgment s ereby rendeed n o   Pene nd gnst he Reondents declrn sd reponden  e not ened  he Oce n qen and  stng hem rom he sme d rong hem om exersing e dues nd egs ernng eeo nd decrng ei a e g person eied o hod d exee e unons  sd oes nd reng em o her s hren. rom this dgnt th rspondts hav appld to tis Cout  Appls an pplats ar sharoldrs of a faml stoc corporatio1 lno'v1 as th Jolston Lumb Co nc  Accoring to Artcl II ction 1 o th b-ws of t said corpoton th nnual mtin of stocholdrs shal b hld in th prncipl oc of th copotion at Zmboana ity in th month o April Pusuant to th provisions of th bylws th annua stockholdrs mtng for th yar 963 Vs schduld for April 2 963 h pupos of th nting, mon othrs was to lct a n' st of dirctos who would in tn choos th nw ocrs of th coporation. n April 2, 963 a schdud, th stockholdrs composd of Louis A Johnston . oan Johnston lizbth J  ã 4ra1t, Rosario S ohnston and rn Johnston mt t th prncpal plac of businss of th corporaton at 23 adrid t., Zmboanga it Afe th mtng ws clld to od b spondnt ois A. Johnston, who ws thn prsiding, th corport scrtary ws rqustd by th said rspodnt to mk a fomal rport of th numb of stocks rprsntd n th mting to dtrmin if thr xstd  quorum Immdiatl thrft prois and po'vs of atton  psntd for rcord purposs nd fo th uidn of th sctry. Upon his nam bing 090 66    I I 6162 OFICAL GZETT VOL. 1 N. 39 clled pettione . Log Joh11ston hmself the owner o 305 shaes of the total of 2462 shaes of the copoto ssued ad outstdng on Apl 2 1963 peseted a poxy by hs mothe els P. Johnsto also  pettone n ths cse, who oned 320 shaes; aothe poy by hs wfe ee R Johsto lkewse a pettoe hee who \ved 5 shaes; d the duly edosed cetcates of stock of Josephne JB Slos eodo . Slos Joseph J Slos ad Albet J Slos equestng that the she coveed by the sd ctctes totllg 35 be egsteed d lsted  the books of the copoton fo votg pposes hs eqest ws deed by he Cha. Belevng tlat he would not  llowed to vote the shaes Vhch he ced fom the Slos fmly  oga Johston mmedtely set fo the ognal owes n ode t they could vote sd shes n hs fvo. hs pompted the ha to fom  ogn Johs� to tht he ld ot lso be llowed to vote the 37 shes of the te bet S ohston whch he hd ee votng  pevous yeas  hs cpacty s dmnstato of the teste estate of the decesed docketed as spcal cse No 387 of the Cout of st Instace of Zambong o the goud that sd dmnstato ce had aledy b termted  ogn ohston dened tht the dms to case hd aedy been closed ad mted tlat ssum tht ths ws so stll he should be lowed to vote he shes of the lte Albet S Jol1nston asmch s he s s h ud of ll he mno hde of tle decesed by vtue of specal case o 57 of the sme ct. s gme·t howeve as uled out by the a potng out tat n ode fo hm to ote sd shes as gd the se must st be egisteed n the nmes o the Yds At ths juctue F Loa Johnston epeset 1242 of the 262 shaes of the copoaton d hs-wfe ee Johnsto ccomped by the two wyes waked ot of the oom whee the meetng Vs beng held he espond ents ho'eve med ad caed o wth the meetg ad electd themselves dectos and oces o the copoto he met of Apl 2 1963 ws ot ecognzed by the petoes who mtaned that t ws hed by mo stoholdes  My 29 1963  Log Johnston Vote  lette to the pdent of the copoton equestg pesolly ad  bhlf of the mno hes of bet S Johnsto d of esa P Johnston that  meetg of stockholdes be called on June 5 163 pusuat to the povsons of the bylaws to tke up such mattes s shold hve bee tken up dng the egl nul meetng (hs D 5.)  esponse to ths ette espodet Lous A Johnsto ssued  otce of  speca stockholdes mee hch sttes mong othes the followg:  0        1     q      t  ' '  l l l       SMBR 27, 9 OFA GAZTT Thi note  beng called t the inst .ne f M Lgan Johnson n the sis f hi lm tht he repreents the majty  te sts o the Cmpn As indated n th lette f M Log hntn dted  29, 163 mttes \Vhh e nt tkn up,  nt nhd in th egua annal shdes men hed lt pl   wll e taen p n thi spl sthlder' eetng he ns end f hs speal sohlde eetng hall e s lls:  Fnaa Re  ddtona epot  the Psdnt n the eatns o t snes nd the sttu  the ompan  mmendtns nd psls of the resden (Ex ) Puruat t ti ice, ater tckler meetig a l1e at te ricial ce  te crrati  uly 20 63. Durig tat eeti \Vic va eie by re-et ui  t ate te rll a cae a a uum a eclare F La t mve r e eleci  a e\v ar  iectr, cai  tere a  vai meetig  il 2 963 ecaue tr a  quru e i >vic a uly ece by reme t a eru y te air F La  iite tat i ti ¥a  re a ake r a ivii  te ue but te air t a  it rmr ulig. Seig tat e e a/ eeete te ajit  te tc  te cati F ga t te a ee iate i  et  iect, ãic iai te Cai veule, a ater mvig r a ivii  te ue e ece y t, ic e ir lieie ·ule te etitie cat teir vte i aY  eir iee Te electe t te e ba ee F ga t Iree . t Felia P t ui A t a liabet  Araeta meiately te te electi  te ai irectr, F ga 11t ivie ui A t a liabet  Araeta t atte te a meetig ic i blc a lig utai Te t reet eclie te ivitati aig tat tey  t ecgize tat y.' Pe� tier cvee a a bar a electe te ll\g cer: F ga t, eiet a geeral aager; re . t viceeiet a aitat geera aaer a eia P t, ecretayreaurer Aer te electi  te etiier t te ce avmetie tey ae a ea  te reet r t turver  te rec a uti11  teir ective iti ut a t ea a  re by e re et te itat etiti  qu aat a e i curt e cucial iue i i aeal ae () \veter r  te aelat vee alily electe a iectr a ce  te cati i te eetig  ril 2 93 2 3
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