Court Opinion

ID: 9648400
Source: CourtListenerOpinion
Date Created: 2023-08-23 14:19:13.611867+00
Date Added: 2024-06-11T18:12:00.258290
License: Public Domain

John A. Fogleman, Justice, dissenting. I respectfully dissent not only for the reason stated in my original dissent, but because I do not believe that the fact that the type of restriction involved here was authorized by bylaws of the corporation prevents the operation of Ark. Stat. Ann. § 64-211C (Repl. 1966). That subsection starts off with the words “Nothing in this section is intended to prevent the holder or holders of any or all shares of a corporation from subjecting their shares, by their own personal contract or agreement, to restrictions * * *.” The words "Nothing in this section” obviously refer to subsections A and B, and the appellee definitely subjected his shares to the restrictions by his personal contract. I adhere to the position taken on the original disposition of this case regardless of the matters set out in the supplemental opinion.