Frantz Manufacturing Co. v. EAC Industries

How courts have described this case

Verbatim parenthetical descriptions written by other courts when citing this decision. Ranked by citation-network relevance.

• noting that a bylaw that is inconsistent with any statute is void
• noting that a bylaw that is inconsistent with any statute is void
• addressing board’s funding of ESOP in response to threat of action by controller
• “Schnell prohibits incumbent management from entrenching itself by taking action which, though legally possible, is inequitable.”
• “The bylaws of a corporation are presumed to be valid, and the courts will construe the bylaws in a manner consistent with the law rather than strike down the bylaws. A bylaw that is inconsistent with any statute or rule of common law, however, is void.”

Source: CourtListener parenthetical corpus (CC0).