CORPORATIONS--BY-LAWS--RESTRICTIONS ON TRANSFER OF BANK STOCK

Plaintiff received thirty shares of bank stock by bequest. Before she presented the shares to the bank for transfer, the stockholders, by a majority vote (plaintiff dissenting), amended the by-laws so as to limit to certain classes the persons to whom the bank stock could be transferred, whether by transfer inter vivos, will, or descent. A mandamus proceeding was initiated against the bank to compel a transfer of the shares free of the restrictions. On defendants' appeal from a ruling denying a motion to quash an alternative writ, held, affirmed.

The restrictions sought to be imposed were not authorized by statute. Wentworth v. Russell State Bank, (Kan. 1949) 205 P. (2d) 972.