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Ling and Co. v. Trinity Sav. and Loan Ass’n
Citation:482 S.W.2d 841 (1972)
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- Parties: Identifies the cast of characters involved in the case.
- Procedural Posture & History: Shares the case history with how lower courts have ruled on the matter.
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The objection to the foreclosure and public sale of this stock is based upon restrictions imposed upon the transfer of the stock by the articles of incorporation of Ling & Company. Trinity Savings and Loan argued that all of the restrictions upon the transfer of any interest in this stock are invalid and of no effect, Section D in the articles of incorporation requires the holder to obtain written approval of the New York Stock Exchange prior to the sale of the stock if, at the time, Ling & Company is a member corporation of the Exchange.
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