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by singleshot_
16 days ago
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If there are thirty companies, and each owns a piece of land, one entity/one vote is pretty clearly observed. 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. |
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No, because this is exactly what "one entity/one vote" directly limits. Each entity is still limited to a single vote.
I think if an outsider overtly bought a parcel, created hundreds or thousands of Delaware entities, titled that parcel over to all of them jointly, and tried to register them all to vote, we'd end up with a test case that the court might strike down. But I'd think someone exploiting it at scale, or a politically connected insider for whom the voting registrar looked the other way might get away with it.