DESKINS v. LAWRENCE COUNTY FAIR & DEVELOP. CORP.


321 S.W.2d 408 (1959)

Hazel T. DESKINS et al., Appellants, v. LAWRENCE COUNTY FAIR & DEVELOPMENT CORPORATION et al., Appellees.

Court of Appeals of Kentucky.

February 27, 1959.


Attorney(s) appearing for the Case

Eldred E. Adams, Louisa, Francis Dale Burke, Pikeville, for appellants.

Edwin D. Rice, David B. Whites, M. J. See, Daniel D. Ball, Louisa, for appellees.


CLAY, Commissioner.

This declaratory judgment action was brought to determine the validity of a limitation on the voting rights of common stock in the Lawrence County Fair & Development Corporation. The limitation was contained in the Articles of Incorporation. On motion for summary judgment it was adjudged valid.

Plaintiffs purchased 484 shares of the common stock of the corporation, which constituted about 60 percent of the shares outstanding. At a stockholders...

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