Cincinnati, Hamilton & Dayton Railway Co. v. Kleybolte

Citations

• 80 Ohio St. (N.S.) 311

Syllabus

<p>Securities sold to directors of issuing company under par, void— Directors of guaranteeing company not inhibited, when — Interpretation of Section 3313, Revised Statutes.</p> <p>1. Section 3313, Revised Statutes, applies only to the capital stock, bonds, notes, or other securities issued by a company of which the purchaser of such stock, bonds, notes, or other securities is a director.</p> <p>2. Stock, bonds, notes, or other securities issued by a company and guaranteed by another company of which the purchaser is a director, are not within the inhibition of the said section.</p>