The Annotated Corporation Laws of All the States, Vol. 5
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| Partner: | buecher.de |
| Hersteller: | Forgotten Books (Cumming, Robert C.) |
| Stand: | 2015-08-04 03:50:33 |
Produktbeschreibung
Excerpt from The Annotated Corporation Laws of All the States, Vol. 5: Containing All the Legislation of 1902 Generally Applicable to Stock Corporations, Trusts and Combinations, Receivers, Taxation, Labor, and Crimes by Corporations and Their Officers Declaration of Rights. Twenty-third. That the exercise of the right of eminent domain shall never be abridged nor so construed as to prevent the Legislature from taking the property and franchises of incorporated companies, and subjecting them to public use in the same manner in which the property and franchises of Individuals are taken and subjected; but private property shall not be taken for, or applied to, public use, unless just compensation be first made therefor; nor shall private property be taken for private use, or for the use of corporations, other than municipal, without the consent of the owner; provided, however, the Legislature may by law secure to persons or corporations the right of way over the lands of other persons or corporations, and by general laws provide for and regulate the exercise by persons and corporations of the rights herein reserved; but just compensation shall in all cases be first made to the owner; and provided, that the right of eminent domain shall not be so construed as to allow taxation or forced subscription for the benefit of railroads or any other kind of corporations, other than municipal, or for the benefit of any individual or association. Legislative Department. Seventy-fourth. No act of the Legislature shall authorize the investment of any trust fund by executors, administrators, guardians or other trustees in the bonds or stock of any private corporation; and any such acts now existing are voided, saving investments heretofore made. One hundred and third. The Legislature shall provide by law for the regulation, prohibition, or reasonable restraint of common earners, partnerships, associations, trusts, monopolies, and combinations of capital, so as to prevent them or any of them from making scarce articles of necessity, trade or commerce, or from increasing unreasonably the cost thereof to the consumer, or preventing reasonable competition in any calling, trade or business. Corporations - Municipal Corporations. Two hundred and twentieth. No person, firm, association or corporation, shall be authorized or permitted to use the streets, avenues, alleys or public places of any city, town or village for the construction or operation of any public utility or private enterprise, without first obtaining the consent of the proper authorities of such city, town or village. Two hundred and twenty-first. The Legislature shall not enact any law which will permit any person, firm or corporation or association to pay a privilege, license or other tax to the State of Alabama, and relieve him or It from the payment of all other privilege and license taxes in the State. Private Corporations. Two hundred and twenty-ninth. The Legislature shall pass no special act conferring corporate powers, but shall pass general laws under which corporations may be organized and corporate powers obtained, subject, nevertheless, to repeal at the will of the Legislature; and shall pass general laws under which charters may be altered or amended. The Legislature shall, by general law, provide for the payment to the State of Alabama of a franchise tax by corporations organized under the laws of this State, which shall be in proportion to the amount of capital stock; but strictly benevolent, educational or religious corporations shall not be required to pay such a tax. The charter of any corporation shall be subject to amendment, alteration or repeal under general laws. Two hundred and thirtieth. All existing charters, under which a bona fide organization shall not have taken place and business commenced in good faith within twelve months
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