The spirit of democracy. [volume] (Woodsfield, Ohio) 1844-1994, 1874-06-23
ARTICLE XII.
PRIVATE CORPORATIONS.

SEC. 1. The general assembly shall pass no
special act comforting corporate powers.
SEC. 2. Corporations may be formed unuer
general laws, but such laws may, from tme 10
time, be altered or repealed. L.
SEC g. Dues from corporations shall pc
secured by such individual liability of the
stockholders and other means as may oe pre-
scribed by law; but, in all cases, each Stock
holder shall be liable over and above the stoeS
by him or her owned, and any amount unPaio
thereon, to further sum, at least equai III
amount to such stock.
SIC. 1. No property shall be appropriated
to the use of corporation until full comlen-
sation therefor be first made in money OF hrsl
secured, by deposit of money, to the owner
irrespective of any benefit from any improve
ment proposed by such corporation; which
compensation shall be ascertained by a jury OF
twelve men, in court of record, as max DC
prescribed by law.
SEC. s. No act of the general assembly au-
thorizing the issue of bills, notes or otner
paper, which may circulate as money, shall
take:effect until submitted to the people, at
the general election next succeeding !ne pas
sage thereof, and approved bya majority OF
the electors voting at such election; ana tne
redemption of all such paper shall pc fully
secured by the deposit of such securities OF
the United States or of this state, as may be
prescribed by law. -
SRC. 6. The directors of u corporation shall
be chosen at one time by general ticket. AZ AZ
have as many votes as the number OF shares
held by him, multiplied by the number OF
directors to be chosen, and may cast all ms
votes for one candidate, or distribute them, as
he may see fit. .s , I
SEC.7 I. Foreign corporations may be au-
thOrized to do business in this state, under
such limitations and restrictions as may be
prescribed by law; and. as to contracts made
or business done in this state, shall be SUBJECT
to the same regulations, limitations and liza,
10 Nrofi inn of
shall exercise no other or greater powers,
privileges or franchises, than may be exercised
by like corporations of this state; nor snail
they have power to condemn or appropriate
private property. ,,u sis,
eral law, subject to the provisions of this con-
stitution, extend the existence of societies for
savings, created prior to the first day OF Sep
tember. one thousand eight hundred and fifty
one, whose charters are subject to alteration,
amendment or repeal No other corporations
of this state, incorporated prior to the. first
day of May, one thousand eight hundred and
fifty-two, shall have the benefit of any law
passed since that date, or which shall here
after be passed, except laws regulating judi
cial procedure, unless they shall reorganize
under and subject to the provisions of this
| constitution. 49,
SEC, 8. No officer or agent of any company
owning. operating or using railroad within
this state, shall be interested directly or indi-
| rectly, either by himself or associated with
| others, in the receipts, contracts or earnings
of such company, otherwise than as an ordl-
nary shipper or passenger, or as u stockholder
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terms or greater facilities than are offered anG
accorded to the public; and all contracts and
arrangements in violation of this section shal
| be void. .s-r =
SEC. 10. Norailroad company shall consoli
date with another. having line parallel ol
i competing with its own; or lease, purchase
or control such line; and no officer Of a rail
road company shall act as an officer of any
lei or competing line; and no railroad com
pany shall do business in this state which
shares its earnings. in any manner, with
company owning or controlling a parallel o.
competing line within this state.
SEC. H. No foreign corporation shall carr!
on the business of transporting persons o.
property, or of telegraphing, mining, manu-
featuring: or insurance in this state, excep
while it maintains therein an office, where, O
on the person in charge of which, process ma.
stituted against it; nor after it shall cause o
procure to be removed into any of the court
of the United States proceeding instituted
by or against it, in any court of this state, upol
cause OF action arising cut of such business
which q corporation of this state, if u party T.
to be so removed. Jli III le ev
SEC. Il. The general assembly shall pas
laws to correct abuses and prevent unjust dis
elimination and excessive charges by railroa,
companies for transporting freight and pas
sengers; and shall provide for enforcing sucl
laws by adequate penalties and forfeitures.
SEC. Is. No corporation shall issue stock
or bonds, except for money or property actual
ly received, or labor done; and all ictitiou
increase Of stock or indebtedness shall be void
rations shall not be increased, except in pur
suance of general law; nor until the consen
of the persons holding the larger amount il
value of the stock shall be obtained, at
not less than sixty days, in pursuance Of law
SIC. IA. Persons and property, transporte
over any railroad, shall be carried to any sta
, ton at charges not exceeding in gross tn
charges for the same class and amount 6
transportation of persons and property in tn
direction, to any more distant station; bu
excursion and communication tickets may b
issued at special rates.