Case Name: STATE ex SCHWAB, Pros. Atty. v. PRICE et
Court: Supreme Court of Ohio
Jurisdiction: Ohio
Decision Date: 1929-06-12
Citations: 7 Ohio Law Abs. 378
Docket Number: No. 21658
Parties: STATE ex SCHWAB, Pros. Atty. v PRICE et
Judges: Jones, Matthias and Day, JJ., concur.
Reporter: The Ohio Law Abstract
Volume: 7
Pages: 378–379

Head Matter:
STATE ex SCHWAB, Pros. Atty. v PRICE et
Ohio Supreme Court
No. 21658.
Decided June 12, 1929

Opinion:
Syllabus by
ALLEN, J.
CORPORATIONS
(160 Q) The rules and regulations of an Ohio corporation, made pursuant to 8704 GC not in contravention of any other statutory provisions, have all the force of contracts as between the corporation and its members and as between the membex-s themselves, and provisions of such regulations stating the number of stockholders constituting a quorum are valid and bixxding. (State, ex rel. Webber, v. Shaw et al., 103 Ohio St. 660, approved and followed.)
When the regulations of a corporation provide that "Three-fifths of all the stockholders shali constitute a quorum," the word "stockholders" means stockholders per capita and not stockholders in interest.
Jones, Matthias and Day, JJ., concur.