Case ID: ohio-law-abs_3/html/0723-18.html
Source: Caselaw Access Project
Author: {"author": "DAY, J.", "license": "Public Domain", "url": "https://static.case.law/"}
Date Created: 2024-08-24T03:29:51.129683

No. 954
    No. 19141
    Charles N. Keith et al v. The State of Ohio ex rel. William Mills et al.
    Error to the Court of Appeals of Clark County.
    313. CORPORATIONS—1. When articles of incorporation are amended pursuant to statutory authority, provisions may be made for preferred and common stock of different par values.
    
      2. In voting for directors, where there are no restrictions or qualifications, voting power is one vote for each share, whether common or preferred.
   DAY, J.

A corporation in amending its articles of incorporation pursuant to statutory authority may provide for preferred and common stock of different par values. When entitled to vote at an election for directors the voting power of all stock pursuant to Section 8636, General Code, is one vote for each share, whether common or preferred, there being no restrictions or qualifications thereof in the certificate of incorporation.

Judgment reversed.

Marshall, CJ., Jones, Matthias, Allen and Kinkade, JJ., concur. Robinson, J., not participating.