Does a purchaser of all capital stock of a private corporation become the legal owner of the private corporation?
"New York", United States of America
The following excerpt is from Brock v. Poor, 111 N.E. 229, 216 N.Y. 387 (N.Y. 1915):
[216 N.Y. 402]One who by purchase or otherwise becomes the owner of all the capital stock of a private corporation does not thereby become the legal owner of its property, but title to the latter is vested in the corporate entity. Button v. Hoffman, 61 Wis. 20, 20 N. W. 667,50 Am. Rep. 131.
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