The new law removes the requirement that companies must be incorporated by a specific statute. Sickened by the control corporations had gained in the state, citizens call for a constitutional convention, where an anti-corporate sentiment prevails. The constitution is amended to bar the legislature from passing special legislation to aid corporations. Corporations doing interstate business begin using the Commerce Clause under the US Constitution as a defense against states control. The civil war leaves corporations more powerful and wealthier than ever, and the first US conglomerates are born.
Corporations expand the use of their money to buy, rent, lease or influence politicians.
In a devastating blow to peoples sovereign power over corporations, the US Supreme Court ruled in Santa Clara County v Southern Pacific RR that a corporation is a natural person and subject to the same protections as freed slaves under the 14th amendment. Ohio Attorney General seeks to revoke the charter of the Standard Oil Co. for forming a trust. The Ohio General Assembly overhauled its laws governing corporations amending 70 statutes and enacting over 50 new laws loosening restrictions on corporations. Some of the many changes included making the incorporation process just a matter of filling out a form and allowing corporate officials to escape personal liability for corporate wrongdoing. The Ohio constitution is amended to allow the state to make loans and issue bonds to corporations in order to promote economic development in industry, commerce, distribution and research.