To Prohibit Banks from Voting Their Own Stock and Provide for Cumulative Voting: Hearings Before ... , 90-2 on H.R. 13884 ... , July 16 and 17, 1968

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Сторінка 17 - Many forms of conduct permissible in a workaday world for those acting at arm's length, are forbidden to those bound by fiduciary ties. A trustee is held to something stricter than the morals of the market place. Not honesty alone, but the punctilio of an honor the most sensitive, is then the standard of behavior.
Сторінка 192 - ... under which he has retained for his life or for any period not ascertainable without reference to his death or for any period which does not in fact end before his death (1) the possession or enjoyment of, or the right to the income from, the property, or (2) the right, either alone or in conjunction with any person, to designate the persons who shall possess or enjoy the property or the income therefrom; except in case of a bona fide sale for an adequate and full consideration in money or money's...
Сторінка 46 - ... every stockholder shall have the right to vote in person or by proxy the number of shares owned by him for as many persons as there are directors to be elected, or to cumulate...
Сторінка 6 - March 9, 1933, as amended; (2) in the election of directors, shares of its own stock held by a national bank as sole trustee, whether registered in its own name as such trustee or in the name of its nominee, shall not be voted by the registered owner unless under the terms of the trust the manner in which such shares shall be voted may be determined by a donor or beneficiary of the trust and unless such donor or beneficiary actually directs how such shares shall be voted...
Сторінка 16 - The trustee is under a duty to the beneficiary to administer the trust solely in the interest of the beneficiary.
Сторінка 13 - But in statutes levying taxes the literal meaning of the words employed is most important for such statutes are not to be extended by Implication beyond the clear import of the language used.
Сторінка 46 - ... for as many persons as there are directors or managers to be elected, or to cumulate said shares and give one candidate as many votes as the number of directors multiplied by the number of his shares of stock shall equal, or to distribute them, on the same principle, among as many candidates as he shall think fit; and such directors or managers shall not be elected in any other manner...
Сторінка 45 - ... nor shares held by another corporation if a majority of the shares entitled to vote for the election of directors of such other corporation is held by the corporation, shall be voted at any meeting or counted in determining the total number of outstanding shares at any given time.
Сторінка 191 - ... a power to control the investment of the trust funds either by directing investments or reinvestments, or by vetoing proposed investments or reinvestments...
Сторінка 44 - ... the name of its nominee, shall not be voted by the registered owner unless under the terms of the trust the manner in which such shares shall be voted may be determined by a donor or beneficiary of the trust and unless such donor or beneficiary actually directs how such shares shall be voted, (3) shares of its own stock held by a national bank and one or more persons as trustees may be voted by such other person or persons...

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