The Montgomery advertiser., 1906-12-17

Article 12. Perpetuties. Ss1s-2s2o.
 Title of Article new.
 | Section 2s20 (1oso) Caption of sec
 Article IS. Leasehoid Estates. 2s21
 Section 2921 C10a2) Limit of years twenty. as amended by Act of March I : Article IA Conditional Estates. 2s22-
 The title of this article and all of the subject matter is new.
 Section 2922 provides when an estate may be granted upon conditions ex-
 Section 2S2s defines and declares estate by condition precedent or sub
 Section 2s24 provides that condi- tion repugnant to the estate granted
 Section 2s25 provides for effect of l breach of condition subsequent
 Article 5. Joint Estates. 2926.
 Title of article new,but subtect-mat-
 Article iS. warranties and coven- ants. 2927-2928.
 Title of article new.
 Section 2s2s (1o35) Caption of sec
 Article i7. Powers. 2s2s-2s47.
 Title of article is new. but subject 1 matter unchanged.
 tors and Administrators 294s-2951..
 Title of article rewritten. but sub 1 ject-matter unchanged.
 The new Constitution and many Acts of the Legislature since the adop-- many changes in the. law of Corpora tions from that which appears In the | Code of 1896. The Commissioner has endeavored to codify the law on this stitutional provision and the Acts of | the Legislature. But few changes, which will be hereafter pointed out, other than verbal changes, changes in | phraseology, or that were necessary to the proper classification. There are | many provisions and many sections of the Code of 1896 relating to corpor- 1 ations and many Acts of the Legisia- ture since the adoption of the last I cause they have been substituted, re- pealed or provided for by subsequent Acts of the Legislature which have and Acts have been repealed by Jim. l plication, many have been re-enacted by implication; that Is. mrely copied ferred to; some of, the provisions have | been re-enacted with slight changes. | The changes made will be pointed out but they are so numerous that 1t viii require an entire reading of the Chap | ter as reported and of the Chapter in the adoption iS of the ma Code tne of M isss se rec lating to corporations in order to full ly comprehend all of the changes l wrought @lne cOQ1IlcaL1On.
 The Chapter is now divided into 20 articles, where 1t was heretofore di- vided into 16. The Act of October 2, 1903, p. BIO. entitled "An Act to con- corporations and to privide for the | organization and regulation" has been copied in full with a few changes in conform with other provisions of the | corporation law. This Act takes the place of several Articles of the Chap fnr aF tr, klA TA1n r1T 1896 and was substituted for several | prior acts of the Legislature which were in effect repealed by this Act, which is the latest Act on the Subject. 1 It provides one mode for incorporating and organizing all business corpofa- l tions except those expressly excepted | from It's provisions whereas heretofore different modes were provided for or ganizing different classes of business | corporation, and even different modes for the same class of business corpora tions The general effect of this act | was to make the mode of incorporat- ! ing business corporations uniform and tions excepted and thus to make the powers and duties of business corpor- ations organized under 1t uniform. Article . l. Mode oSso of Joi5 incorporation and
 This article is new and provides a uniform mode for incorporating and organizing business corporations; It IS ober 2, 1903, p. S1O. as shown by the marginal notes, except as hereinafter
 Sections 29s5 and 2sss are based up on Act of September IS, 1903, p. 242 Sections 2 and {, but are rewritten SC as to make the Act effective and make it conform with other provisions of the general corporation law, and to make the filing of certificates and list of corporations uniform and to provide one place or one record which would disclose the desired information. The changes are so radical that it will re- act to comprehend fully the changes
 Section 2SS7 is new and is is codified III ", fe9rtefs 2rtcls g. Amendfng SSs ''; or Correcting Errors in Franchises or Incorporation from Sections 45 and 47 respectively
 Article 3. Directors of Corporations sections ss7e, ss71 l. and 2s7a are october ?; ;.o1s3, 1903, p. I:, 3Io; ,.o.. soo.,on A of the Act of october ?, 1903, p
 Article A. Stock and Stockholders
 This is new matter codified from Act of October 2, 1903, D. BIO.
 Sections 29742984 are respectively codifieG from Sections 26-36 inclusive of the same act as shown by marginal notes opposite each section.
 Section 2983, the phrase for unpaid subscriptions for stock" inserted by the commissioner; 1t always appearing to the commissioner that this lien should exist only for unpaid subscrip- tion to stock and not for debts gener- ally; the effect of the change being to limit the lien of the corporation upon the shares of its stockholders to the debt for unpaid subscriptions
 Section 29S5 Is codified from Section SS of the Act of October 2, 1903, D.
 Section 29s6 is codified from sec tion 43 of the same Act.
 Section 29S7 is codifled from Section l 46 of the same Act
 Article B.. Powers. Rights and Duties of Corporations. 29SS-3007
 ly from Section of the Act of Oct ober 2, 1903. p. BIO. Subdivision % codified from Section 25 of the same
 Subdivision e." after "contracted. the phrase unless otherwise provid- ed" in line fifteen addel, the phrase 'of the corporation" after indebted ness" in line sixteen is added.
 Sections ;29S9 to 299S, are, codifiet Act of october 2. 1903. p. BIO, Power companies" are added by the commis. sioner wherever mining, manufact- uring and quarrying companies" arc mentioned. The change in phraseology of the various clauses are so numerou! and so great. and there are so many intended changes in the meaning anC sense that 1t will require a re-readine the changes from Section of thu original Act
 Section 2999 is codified from section g of the Act of October 2. 1903 p. BIO power companies" being added by thu
 Section 5000 Is codified from Sectior