Custer chronicle. [volume] (Custer City, Black Hills, D.T. [S.D.]) 1880-1890, 1889-03-16
Article XVII.
CORPORATIONS.

See, ] No corporation shall be created or
hatc It's chartcr extended. changed or amend
ci 10y special laws except those for charitable.
educational, penal or ~rctormatory purposes,
which are To lac and remain under the patron
age ANA control OF the state; but thelcgislaturc
snail provide 10y general laws Tor the oryunizl-
tlon OF all corporations hereafter to toe created.
See. :. All existing charters. or grants OF
spcclai or exclusive privileges, under which a
bona fdc organization shall not have taken
tihIc ana business. been commenced in good
illth nj the time this constitution takes effect,
shall thereafter have no validity,
Sec. ). The legislature shall not remit the
forfeiture OF the charter To any corporation
now existing, nor alter or amend the same, nor
pass any other general or special law for the
dement, OF SUCH corporation, except upon the
CONDITION that such corporation shall thcrc&t-
Ter hold IL charter subject to the provisions OF
II : constitution.
See. 4, The exercise of the right of eminent
domain shall never toe abridged or SO constrIi-
cd a> TO prevent the legislature from taking
the property and franchises OF Incorporated
companies ana subJccting them 20 pubic use,
the same as the property of individuals; and
me exercise OF the police power OF the state
snail never be abridged or so construed as to
permit corporations 10 conduct their business
in such manner as to infringe the canal rights
on INDIVIDUALS or the general well being OF the
state.
See. D. In all elections for directors or man
ayers Oh II corporation, each member or share
holder may east the whole nnnnor of his votes
Tor one candidate or distribute them upon two
or more candidates as he may prefer.
see. u. No foreign corporation shall do any
DlSIncSs III TINS state without having one or
more known places of business ana an author.
lIcd agent on agents i'll the same upon whom
process may bc served.
See. :. No corporations shall engage in any
business other than that expressly authorized
in IT. charter, nor shall II take OF hold any real
estate except such as may bc necessary and
proper for its legitimate business.
secs No corporation shall issue stocks or
bonds except tor money, labor done or money
or property actually received; and all fictitious
increase of stock or Indebtedness shall be void.
The stock and Indebtedness of ,DrDoratipnS
shall not be increased except i'm pursuance OF
general law nor without the consent of the per-
sons holding the larger amount in value cf the
stock first obtained 1T a meeting To Toe held al
Ter sixty days notice given in pursuance OF
law.
Sec. 9. The legislature shall have the power
to alter, revise or annul any charter of fanny cor
pOratiOn now existing and rcvocahle at the
taking effect Of this constitution. or any that
may bc created, whenever in their opinion il
may he injurious to the cities of this state; in
such a manner, however, that no injustice shall
be done to the incorporators. No law hcreat-
ter enacted shall create, renew or extend the
charter OF more than one corporation.
See. 10. No law shall be passed by the lcgis-
laturc granting the right 10 construct and opcr-
ate n street railroad within any city. town or
Incorporated village, without requiring the
consent of the local authorities having the con-
troll of the street or highway proposed to be oC-
cuplcd by SllCh street railroad.
Sec. III. Any association or corporation or
ganlIed FOR the purpose, or any individual,
shall have the right to construct and maintain
lines OF telegraph in this state. and to connect
the same with other lines: and the legislature
shall by general law OF uniform operation pro-
vide reasonable regulations 60 give fun effect
to this section. No telegraph company shall
consolidate with, or hold II controlling interest
in the stock or bonds of any other telegraph
company owning n competing line. or acquire
by purchase or otherwise any other competing
line OF telegraph.
Sec. T.. Every railroad corporation organ
lied or doing business IN this state, under the
laws or authority thereof, shall have and main
tain "A public office or place in this state for the
transaction of its business. whore transfers of
its stock shall be made and in which shall be
kept for public inspection. books in which
shall Toe recorded the amount OF capital stock
subscribed. and by whom the names of the
owners of its stock and the amount owned
by them respectively; the amount of stock
paid in and by whom, the transfers of said
stock; the amount of its assets and liabilities
and the names and place of residence of it's
officers. The directors of every railroad cor
poration shall annually make IL report. under
oath, TO the auditor Of public accounts, or
some officer or officers to be designated by
law, of all their acts and doings, which report
shall include such matters relating TO rail-
road rs may be prescribed 10y law, and the
Legislature shall pass laws enforcing by suita-
BILE penalties the provisions of this section.
Sec. Ii, The rolling stock and all other NOV
able property belonging to any railroad com-
pany or corporation in this state, shall be con-
sidercd personal property. and shall be liable
to execution and sale in the same manner as
the personal property Of individuals. and the
legislature shall pass no laws excmpting such
property from execution and sale.
sec. IA. NO railroad corporation snail con-
solidate its stock, property or franchises with
any other railroad corporation owning ii par
allel or competing line; and in no case shall
any consolidation take place except upon pub
lie notice given at least sixty days to all stock
holders, In such manner rs may be provided by
law. Any attempt to evade the provisions of
this section. by any railroad corporation, by
lease or otherwise. shall work IA forfeiture Of
It's charter.
Sec. Is. Railways heretofore constructed or
that may hereafter be constructed in this state
are hereby declared public highways, and all
railroad and transportation companies are de-