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by mindslight
22 days ago
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IANAA. My reading is that "one person/entity one vote" is an extension of the common "one person one vote" where say owning two pieces of real estate or other qualification for an election means you still just get one vote (rather than multiple by having more stake in the outcome). Read the examples around those sections. There might be an angle where if a given person has the voting POA from two different entities, that person would still only get a single vote, limited by being a natural person? This doesn't seem to be the intent though. To be [close to] sure you'd have to ask a Delaware attorney, as they should have a good handle on the jurisprudence around this topic. |
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If those thirty companies reconfigure their holdings so they each own one thirtieth of each of thirty parcels, under your model all of a sudden each company has thirty votes.
I believe if you tried to exploit the ambiguity in the law in a way that mattered enough for anyone to care, you would catch a lawsuit predicated on the idea that the one entity/one vote concept was violated by this trick. I think a court would approve of the idea.
I still agree with you that this law is poor, I just don’t think this exploit flies in court. But no one knows until they try.