Spirit of Jefferson. [volume] (Charles Town, Va. [W. Va.]) 1844-1948, 1872-05-07
NO. 49,.
with respect to persons aud property within
the Jurisdiction of the authority imposing the
ARTICLE XI.
CORPoRATInNs.

ARTICLE XI.
CORPORATIONS.
1. The Legislature shall provide for The
organization of all coIporations hereafter to
be created, by general laws, uniform as to the
class to which they relate but no corpora-
ton shall be created by special law Propi-
ded, That nothing In this section contained
shall prevent the Legislature from providing
by special laws for the connection by canal of
the waters OF the Chesapeake, with the Ohio
brier, New river and Great kanawhs.
2. The stockholders of all coruorations and
! joint stock companies, except banks and bank.
ing institutions, created by the laws of this
State, shall be liable for the Indebtedness of
such corporations to the amount of their stock
subscribed and unpaid, and no more.
8. All existing charters or grants of spe>
cial or exclusive privileges under which or.
ganization shall not have taken place. or
which shall not have been in operation with>
in two years from the time this Constitution
takes effect, shall thereafter have no VALIDITY
or effect whatever: Propidet3, That nothing
herein shall prevent the execution of auy
bona fcle contract heretofore lawfully made
In relation to any existing charter or grant in
this State. 81
1He IAeSiSiature snail provide by law,
that In all elections for directors or managers
OF incorporated companies, every stockholder
shalt have the right to vote, in person or by
proxy, for the number of shares of stock
owned by him, for as many persons as there
are directors or managers to be elected, or to
cumulate said shares, and give ono candidate
as many votes as the number of directors,
multiplied by the number of his shares of
stock, shall equal, or to distribute them, on
the same principle among as many candidates
as he shall think fit and such directors or
managers shall not be elected in any other
! manner.
3. No law shall be passed by the Lecisla-
ture granting the right to construct and op-
crate street railroad within any city, town.
or Incorporated village, without requiring the
consent OF the local authorities having the
control of the street or highway proposed to
be occupied by such street railroad
BANKS.
6. The Legislature may provide, by gen.
cral banking law, for the creation and organs
ization of banks of issue or circulation but
the stockholders of any bank hereafter au-
thorzed by laws Of this State, whether of is-
sue, deposit or discount, shall be personallv
liable to the creditors thereof. over and above
the amount Of stock held by them respective-
ly, to an amount equal to their respective
shares SO held, for ali it's liabilities accruinp
while they are such stockholders
RAILROADS.
7. Every railroad corporation, organized or
doing business in this State, shall annually,
by their proper officers, make report, under
oath. to the Auditor of Public Accounts of
this State, other officer to be dcsiy>
mated by law, setting forth the condition of
their affairs, the operations of the year, and
such other matters relating to their respcc,
tive railroads as may be prescribed by law
The Legislature shall pass laws enforcing. by
suitable penalties, the provisions of this Sec
ton.
8. The rolling stock and all other movable
property belonging to any railroad company
or corporation in this State, shall be consid-
cred personal property, and shall be liable to
execution and sale, in tho same manner as
the personal property of individuals, and the
Legislature shall pass no law exempting any
! such property from execution and SALE
| 8. Railroads heretofore constructed. or that
may hereafter be constructed in this State.
are hereby declared public highways. and
shall be free to all persons for the transporta>
tlon OF their persons and property thereon,
under such regulations as shall be prescribed
by law; and the Legislature SHALL from time
to time, pass laws applicable to all railroad
corporations in the State, establishing reason
able maximum rates of charges Tor the trans
! portatlon of passengers and freights, and pro.
vidns for the correction of abuses, tho pre-
vention of unjust discrimination between
through and local or way freight and pass
senger tariffs; and for the protection of the
just rights of the public, and shall enforce
such laws by adequate penalties.
lO. The Legislature SHALL in the law reg
ulatlng railway companies, require railroads
running through, within a half mile Of
town or village containing three hundred or
more inhabitants, to establish stations for the
accomplodation of the trade and travel of said
town village.
II. No railroad corporation shall consoli>
date its stock, property or franchise, with any
other railroad owning parallel or competing
line, or obtain the possession or control Of
such parallel or competing line by lease or
other contract, without the permission of the
Legislature.
Y. The exercise Of the power and the
right OF eminent domain shall never be 80
construed, or abridged, as to prevent the
taking, By the Legislature. of the property
and franchises of incorporated companies. al
ready organized, and snbjecting them to the
! public use, the same as of individuals.
ARTICLE XII.
| EDUCATION.
l. The Legislature shall provide, by gen
eral law; for thorough and efficient system