3 research outputs found
CORPORATIONS-MEMBERSHIP CORPORATIONS-VOTING RIGHTS UNDER CALIFORNIA LAW
Get PDFThe original owner of a subdivision recorded a declaration of restrictions which provided that the majority of the property owners within the subdivision may form . . . a non-profit cooperative corporation without capital stock, but with one share thereof appurtenant to each of the lots in such subdivision,\u27\u27 to approve plans for building on these lots. Defendants acquired 133 lots and commenced construction of homes in spite of the disapproval of their plans by the association organized under the authority of the declaration. The two defendants claimed to have acquired majority control of the association, claiming 133 votes as owners of 133 lots, being opposed by the votes of 39 persons owning 39 lots. On appeal from a decree denying an injunction against defendants\u27 construction, held, reversed. Each member has only one vote regardless of number of lots owned. Green Gables Home Owners\u27 Assn. v. Sunlite Homes, Inc., (Cal. 1949) 202 P. (2d) 143
CORPORATIONS-MEMBERSHIP CORPORATIONS-VOTING RIGHTS UNDER CALIFORNIA LAW
No full textThe original owner of a subdivision recorded a declaration of restrictions which provided that the majority of the property owners within the subdivision may form . . . a non-profit cooperative corporation without capital stock, but with one share thereof appurtenant to each of the lots in such subdivision,\u27\u27 to approve plans for building on these lots. Defendants acquired 133 lots and commenced construction of homes in spite of the disapproval of their plans by the association organized under the authority of the declaration. The two defendants claimed to have acquired majority control of the association, claiming 133 votes as owners of 133 lots, being opposed by the votes of 39 persons owning 39 lots. On appeal from a decree denying an injunction against defendants\u27 construction, held, reversed. Each member has only one vote regardless of number of lots owned. Green Gables Home Owners\u27 Assn. v. Sunlite Homes, Inc., (Cal. 1949) 202 P. (2d) 143
