Sturgis advertiser. (Sturgis, Dakota [S.D.]) 1887-1???, 1889-03-07
ARTICLE XVII.
CORPORATIONS.

ment twice for the same offense.
ARTICLE XVII.
CORPORATIONS.
SECTION /. No corporation shall be created or
have its charter extended, changed or amended
by special laws except those for charitable. ed
vocational, penal or reformatory purposes,
which are to be and remain under the patron
age and control of the state but the legislature
shall provide by general laws for the organiza-
tien of all corporations hereafter to be created.
SEC. 2. All existing charters. or grants of spec
ial or exclusive privileges, under which bona
fide organization shall not have taken place and
business been commenced in good faith ut the
time this constitution takes effect, shall there
after have no validity.
SEC. g. The Legislature shall not remit the
forfeiture of the charter OF any corporation now
existing nor alter or amend the same nor pass
ahy other general or special law for the benefit
of such corporation, except upon the condition
that such corporation shall thereafter hold its
charter subject to the provisions of this consti-
tuition.
SEC. 4. The exercise of the right of eminent do
main shall never be abridged or so construed Us
to prevent the legislature from taking the prop
erty and franchises of incorporated companies
and subjecting them to public use. the same as
the property of individuals and the exercise OF
the police power of the state shall never be
Abridged OF SO construed as to permit corpora
tiens to conduct their business in such manner
as to infringe the equal rights of individuals OF
the general well being OF the state.
SEC 5. In all elections for directors or man.
ayers of a corporation, each member or share
holder may cast the whole number OF his votes
for one candidate, or distribute them upon two
or more candidates as he may prefer.
SEC. 6. No foreign corporation shall do any
business In this state without having one OF
more known places Of business and an author
lied agent or agents In the same upon whom
nrnn ma ha sarynd
SEC. Z. No corporation shall engage in any
business other than that expressly authorized IN
it's charter nor shall it take nor hold any real
estate except such as may be necessary and
proper for its legitimate business.
Sec. 8. No corporation shall issue stocks Oh
bonds except for money, labor done or money
increase OF stock or indebtedness shall be void
The stock and indebtedness of corporations
shall not be increased except in pursuance OF
general law nor without the consent Of the per.
sons holding the larger amount in value OF the
stock first obtained, at meeting to be held
after sixty days notice given in pursuance OF
law.
SEC 9. The legislature shall have the power
to alter revise OF annul, any charter of any cor
poration now existing and revocable at the tax
ing effect Of this constitution, or any that may
be created, whenever in their opinion it may be
injurious to the citizens of this state in such
a manner, however. that no injustice may be
done to the incorporators. No law hereafter
enacted shall create, renew or extend the char.
ter of more than one corporation.
SEC. 10. NO law shall be passed by the legis-
lature granting the right to construct and op.
crate street railroad within any city, town NJ
incorporated village without requiring the con-
sent Of the local authorities having the control
OF the street or highway proposed to be occupied
by such street railroad.
SEC IL. Any association or corporation or
gan1zed 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
U panAraI law 0f uniform ur0yidf
reasonable regulations to give full effect to this
section No telegraph company shall consoli
date with. or hold controlling interest in the
stock or bonds of any other telegraph company
owning competing line, or acquire by pur
chase or otherwise, any other competing line OF
telegraph.
or doing business in this state under the laws
or authority thereof shall have and maintain @
public office or place in this state for the tran
saction of its business, where transfers of its
stock shall be made, and in which shall be kept
for public inspection books in which shall be
recorded the amount of capital stock sub
scribed and by whom the names Of the owners
of its stock, and the amount owned by them re-
spectively; the amount Of stock paid in, and by
whom; the transfers of said stock the amount
of its assets and liabilities. and the
oosrs Ths directors Of sSaas 81
corporation shall annually make a report
under oath, to the auditor OF public accounts
law, Of ali their acts and doings. which report
shall include such matters relating to railroads
as may be prescribed by law, and the legisla-
ture shall pass laws enforcing by suitable pen.
alties the provisions OF this section.
SEC. H. Tho rolling stock, and all other NOV
able property belonging to any railrord com.
pany or Corporation in this state shall be con-
sidered personal property, and shall be liable tc
execution and sale In the same manner as the
personal property OF individuals, and the legis.
lature shall pass no laws exempting such prop
erty from execution and SALE
SEc. a. No railroad corporation shall con-
solidate its stock property or franchise with any
othes raiiroad corporation owning parallel
or Competing line, and In no case shall any
consolidation take place except upon public no
tice given Of at least sixty DAYS to all stock.
holders. in such manner as may be provided by
law. ANY attempt to evade the provisions Of
this section, by any railroad corporation by
lease or otherwise, shall work forfeiture of It'll
charter. -.
SEC. l5 Railways heretofore constructed, OF
that NAV hereafter be constructed, in this state
are hereby declared public highways. and ali
railroad and transportation companies are
declared to be common carriers and subject to
, hsSs nower to enact laws reeuiatins and con-
trolling the rates Of charges for the transporta-