Comm'th v. Detwiller

Citations

• 131 Pa. 614
• 18 A. 990
• 1890 Pa. LEXIS 1144

Syllabus

<p>[To be reported.]</p> <p>1. One who is a citizen oí the United States, though not a citizen of Pennsylvania, may become a stockholder in an agricultural or scientific association incorporated by the Court of Common Pleas under the acts of October 13, 1840, P. L. (1841) 5, and February 20, 1854, P. L. 90, when'there is nothing in the charter requiring shareholders to be citizens of the state.</p> <p>2. In Pennsylvania, a resident alien friend may deal as freely in all forms of property, whether personal or real, “ as any natural born citizen: ” Section 1, act of February 10, 1807, 4 Sm. L. 362; wherefore, in the absence of any organic requirement that shareholders shall be citizens, a resident alien friend may become a shareholder in such association.</p> <p>3. Though, under said statutes, the advantage of corporate powers were reserved in the first instance for citizens of the state, yet when they have once been granted, there is no restriction put upon their proper exercise by any citizen of the United States, or by an alien friend, subsequently becoming the owner of shares in such an association.</p> <p>4. The non-resident or alien friend stockholder takes his shares with all the rights and privileges which pertain to them in the hands of a citizen ; he may vote upon them, and, whei-e no other qualification than the ownership of shares is required of directors, he may lawfully become a director in such an association.</p> <p>5. The regulations of such association providing that stockholders shall have one vote for each share held by them up to ten shares, fixing the proportion which their votes shall bear to their shares above that number, and allowing them to vote by proxy when not present, is reasonable, uniform, conflicting with no law, and binding upon all shareholders.</p> <p>6. Under a by-law of such an association providing that “ when any director shall die, resign, neglect to serve, or remove out of the county, the board may proceed to supply the vacan