The Lake Charles echo. [volume] (Lake Charles, Parish of Calcasieu, La.) 1876-1898, 1879-08-30
The Constitutional Convention c
CONTINUED From Last Week. 7
CORPORATIONS AND CORPORATE
RIGHTS.


remit the forfeiture of the charter
ofany cotp6fation now existing
nor renew, alter or amend the
same, nor pass any general OF
special law for the benefit of sncl
corporation, except upon the con.
EDITION that such corporation sbal
thereafter hold its charter sub
Fleet to the provisions of this con.
stithtibu.
The exercise Of the police power
Fof the State shall never be abridg.
ed nor so construed as to permit
corporations to conduct their Bus
iness in snch manner as to in
fringe the equal rights of individ-
uals OF the general well-being oi
Fthe sStite.
No foreign corporations shall do
any business in tliis Stilte without
having one or more known places
of business, and an authorized
agent or agents in the State upon
whom process may be served.
No corporation shall engage in
any business other than that ex-
| pressIy authorized in its charter
or incidental thereto. nor shall it
take or hold any real estate for a
longer period tbah ten years, ex-
cept such as may be necessary
and proper for its legitimate bus
ineSs or purpose.
No corporation shall issue stock,
nor bonds, except for Labor done
Or motley or property actually re-
ceived, and all fictitious issues of
stock shah be void, and any cor
poration issuing such fictitious
stock shall forfeit its charter.
The stock shall not be increas-
ed, except in pursuance OF general
laws, nor without consent Of per-
sons holding the larger amount in
value of the stock first obtained
at meeting of stockholders to be
held after thirty days notice given
in pursuance of law.
The term corporation, as nsed
in this constitution. shall be con-
strued to include all joint stock
companies or associations having
AN, power or privileges not pos-
sessed by individuals or partner.
ships.
1t shall be crime, the nature
and punishment Of which shall be
prescribed by faw, for any presi-
dent, director, manager, cashier
or other officer or owner OF any
private or public bank or banking
institution TO assent to the recep-
tion Of deposits, or the creation Of
debts by shch banking institution
after he shall have had knowledge
of the fact that it is insolyent or
10 failing circumstances; any such |
officer, agent or manager shall be
individually responsible for such
deposits so received and all such
debts SO created with bis assent.
The General Assembly shall
have power to enact general laws
authorizing the parochial or mu-
nicipal authorities of the State,
under certain circumstances, by a
vote Of the majority of the proper
ty taxpayers in number and in
value. to levy special taxes in aid
Of public improvements or railway
enterprise; provided, that such
tax shall not exceed the rate of
five mills per annhm nor extend
for q longer period than ten years.
Any railroad corporation or as
sociation organized for the pnr-
pose shall have the right to con-
strnet and operate railroad be-
tween any points within this State.
and connect at the State line with
,ailroads Of other States. Every
taiIroad company shall have the
light with its road to intersect.
,cnnect with on cross any other
'ailroad, and shall receive and
each fhe others passen-
GERS. tonnage and cars, loaded or
Empty. without delay or discrim-
nation. T.
Railways heretofore constructed.
II that may hereafter be con-
trneted in this State, are hereby
declared public highways and rail-
DAD companies common carriers.
Every railroad or other eorpor-
ltioa, organized or doing business
D this State under the laws or