Database Case: Lv Moumou v. Zhao Moumou, Gansu Investment Company et al.
Because a joint-stock company does not share the personal-association constraints of a limited liability company, the actual investor's request for registration should not automatically be subjected to the LLC requirement of majority consent from other shareholders. Where the nominee arrangement is valid and the investor actually contributed or subscribed capital, the court may recognize the investor's shareholder status and order registration.
Holding
Because a joint-stock company does not share the personal-association constraints of a limited liability company, the actual investor's request for registration should not automatically be subjected to the LLC requirement of majority consent from other shareholders. Where the nominee arrangement is valid and the investor actually contributed or subscribed capital, the court may recognize the investor's shareholder status and order registration.