Wessington Springs herald. (Wessington Springs, Aurora County, Dakota [S.D.]) 1883-1891, 1889-03-15
ARTICLE XVII.
CORPORATIONS.

ARTICLE NvII.
CORPORATIONS.
sEcT1oN1 /. 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
snail provide by general laws for the organiza-
'on OF all corporations hereafter to De created
SEC. 9 All existing charters. or grants of spec
III or exclusive privileges, under which bona
noe organization shall not have taken place and
business been commenced in good faith at the
time this constitution takes effect, shall there
after have no validity.
SEC. 8. The legislature shall not remit the
forfeiture of the charter OF any corporation now
existing nor alter or amend the same nor pass
any other general or special law for the benefit
OF such corporation, except upon the condition
that such corporation shall thereafter hold its
tuition.
SEC. 4. The exercise of the right of eminent do
to prevent the legislature from taking the prop
erty and franchises of incorporated companies
ana sub1ecting them to public use. the Same as
the police power Of the state shall never be
abridged or SO construed as to permit CORPORA
lions to conduct their business in such manner
as to infringe the equal rights of individuals or
the general we'll being of the state y
Sec. s. In all elections for directors or man.,
ayers agels OF corporation, each member OF share
holder may cast the whole number Of his votes
for one candidate, or distribute them upon two
or more candidates as hemny prefer:
business in this state without having one or
more known places of business and an author
lied agent or agents in the same upon whom
process may be served.
SEC T. No corporation shall engage in any
business other than that expressly authorized IN
its charter nor shall it take nor hold any real
estate except such may be necessary and
proper for its legitimate business.
SEC 8. No corporation shall issue stocks or
bonds except for 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 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 u meeting to be held
after sixty days notice given in pursuance Of
law.
SEC. 9. The legislature shall have the power
to alter, revise or 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
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 tho right to construct and op-
crate street railroad within any city, town or
incorporated village without requiring the con-
sent OF tho local authorities having the control
OF the street or highway proposed to be occupied
by such street railroad.
SEC II. Any association or corporation or
ganized for the purpose, or any Individual shall
have the right to construct and maintain lines
of telegraph in this state, and to connect tho
same with other lines; and the legislature shall
reasonable regulations to give full effect to this
section. NO telegraph company shall console
date with, or hold a 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.
IN =,
or doing business in this state under the laws
or authority thereof shall have and maintain q
public office or place in this state for the tran
suction of it's 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
aames S and l''1 place anu of residence ' Of It's
officers. Tho directors of every railroad
corporation shall annually. make q report,
| under OATH to the auditor of public accounts,
or some officer or officers to be designated by
law, Of all their acts and dongs. 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. Is. The 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 to
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. IA. No railroad corporation shall con-
othes railroad corporation owning parallel
or competing line; and in no case shall any
consolidation take place except upon public no.
tice given of ut 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
1aOo 10th hall tar
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
! declared to be common carriers and subject to
Legislative control; and the legislature shall
have power to enact laws regulating and con-
trolling the rates of charges for the transpSrta-
tion of passengers and freight as such COMMON
carriers from one point to another in This
state.
Sec. 16. Any association or corporation Or
ganized tot the purpose shall have the rightto
construct and operate railroad between any
state line with railroads of other states. Every
railroad company shall have the right with it's
or
each the others passengers, tonnage and cars,
loaded or empty, without delay or discrimina-
tion.
Sec. II. The legislature shall pass laws to cor
rect abuses and prevent discrimination and ex-
tortion in the rates of freight and passenger
and enforce such laws by adequate penalties, to
the extent if necessary for that purpose, of for
| fixture Of their property and franchises.
SEC. 49, Municipal and other corporations and
individuals invested with the privileges of TAX
ing private property for public use shall make
just compensation for property taken, injured
or destroyed by the construction or enlarge
nlent of their works, highways or improve
ments, which compensation shall be paid or Sc
cured before such taking, injury or destruction.
The legislature is hereby prohibited from de-
priving any person Of an appeal from any pre-
| liminary assessment of damages against any
such corporations or individuals, made by view
ers or otherwise; and the amount of such dam
ages in nll cases of appeal SHALL on the demand
of either party, be determined by o jury as in
other civil cases.
| SEC. 10. The term Corporations" as used in
| this article, shall be construed to include all
! joint stock companies associations having
any of the powers or privileges of corporations
| not possessed by individuals or partnerships,
ARTICLE XVIII
BANKING AND CURRENCY.
| SECTION I. If u general banking law shall be
enacted it shall provide for the registry and
countersigning by all officer of this state of all
bills or paper credit designed to CIRCULATE as
money, and .requle security to the full amount
! thereof, to be deposited with the state treas
urer in the approved securities of this state OF
| of the United StnteS to be rated at 10 Nor capt