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Monty v. Leis

Investor may use its majority shares after agreement is signed to amend articles to allow it to issue additional shares to itself.





Cite as

2011 DJDAR 5885

Published

Apr. 27, 2011

Filing Date

Apr. 26, 2011


MARIANNE MONTY et al

MARIANNE MONTY et al.,

Plaintiffs and Appellants,

v.

GEORGE S. LEIS et al.,

Defendants and Respondents.

 

2d Civil No. B225646

(Super. Ct. No. 1340306)

(Santa Barbara County)

California Courts of Appeal

Second Appellate District

Division Six

Filed April 27, 2011

 

ORDER MODIFYING OPINION

AND DENYING REHEARING

[NO CHANGE IN JUDGMENT]

 

THE COURT:

 

It is ordered that the opinion filed herein on March 30, 2011, be modified as follows:

 

1.         On page 6, in the last sentence in the first paragraph, the word "noting" is changed to "nothing," so that the sentence reads:  "But nothing in section 405 limits its application to that situation."

 

2.  On page 6, the last sentence in the third paragraph is changed to read:

 

"Once Ford obtained a majority of the shares, it could amend the articles to authorize as many shares as required under the agreement."

 

There is no change in the judgment.

 

Appellants' petition for rehearing is denied.

 

#263986

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