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BAILEY v. JONES

No. 5-4163.

419 S.W.2d 585 (1967)

242 Ark. 431, 668

Homer L. BAILEY et al., Appellants, v. Clint JONES, Securities Commissioner, Appellee.

Supreme Court of Arkansas.

Rehearing Denied November 6, 1967.

Attorney(s) appearing for the Case

Spitzberg, Bonner, Mitchell & Hays, by H. Maurice Mitchell and Allan W. Horne, Little Rock, for appellants.

Catlett & Henderson, Little Rock, for appellee.

OLIVER M. CLEGG, Special Justice.

We are called upon here to answer the single legal question: May stockholders of a domestic insurance company legally create a voting trust?

Appellants are some of the principal officers, directors, and stockholders of American Foundation Life Insurance Company, a domestic insurer. Believing that a competitor was buying shares of the Company with the view of merging it into another insurer, Appellants entered into a Voting...

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