The diamond drill. (Crystal Falls, Iron County, Mich.) 1887-1996, 1908-06-20
ARTICLE XII
Corporations


ARTICLE XII
Corporations
Section /. Corporations may be
formed under general laws, but shall
not be created. NOR SHALL ANY
RIGHTS, PRIVILEGES OR FRAN
cHISES BE CONFERRED UPON
THEM. by special act OF THE LEG
STATURE. All laws HERETOFORE
OR HEREA FsTER passed by the legis-
lature for the formation Of, OR CON
FERRING RIGHTS, PRlNILEGES
OR FRANCHISES UPON corporations
and all rights. privileges or franchises
conferred by such laws may Dc amend
cd. altered repealed OR ABsROGATED.
The above section Is revision nnd en-
largemert OF the irst two sentences Of sec
OF Art XIV OF the present constitution and
onits the third sentence OF said section
which Is as follows, But the legislature
may, by a two-thirds vote Of the members
elected 70 each house. create Single Da ~.
municipal purposes are also omitted from
the end Of the nrst sentence as provision n
made In Sec. a. Art. VIII, whereby munlci,
amend their charters, subject 10 general
laws The words In capitals indicate the IN
creased scope OF the section, the purpose De-
ing 10 further restrict the power OF the logis-
iature TO grant corporate privileges by spe-
clal act and 10 extend It's power OF amend
ing corporate grants to laws heretofore or
hereafter passed.
Sec. 2. The term Corporation" ms
used in this article shall be construed
10 include all associations and joint
stock companies having any OF the
powers or privileges OF corporations
not possessed by individuals or part
nerships All corporations shall have
the right 20 sue and be subject 20 be
sued In all courts in Ike cases as nat
ural persons.
No change II made from Sec. II Of Art XIV
Of the present constitution except Tor the
purpose of improving the phraseology
Sec 2. No corporation shall be ere
ated for a longer period than thirty
years. except for municipal. ruilroad,
INSURANCE. canal or CEMETERY
PURPOSES. OR CORPORATIONS
ORGANIZED WITHOUT ANY CAP
ITAL STOCK FOR RELIGIOUS
BENEVOLENT. SOCIAL OR FRA
TERNAL PURPOSES but the legis-
latnre may provide by general
laws. applicable 10 any corporations
for one or more extensions OF the term
90 such corporations while such term
Is running. not exceeding thirty years
for each extension. on the consent OF
not less than two-thirds of the capital
stock OF the corporation; and by like
general laws for the corporate rcor-
ganization for a further period. not exc
oaeding thirty years. OF such corpora
lions whose terms have expired by lin
Y itation. nn the consent OF not less thar
four-flfths OF the capital stock.
rhis 10 a revision Of Sec. 10, Art. XIV o
the present constitution. II takes plank roat
corporations out OF the list OF corporation
which may be organized for more than THIRTY
years. and adds 20 such excepted list thoE'
named In capitals. There II no good reeaoi
for limiting the term Of religious and th'
other corporations above named when organ
lied without capital stock
Sec. 4. The stockholders OF every cor
poration and Joint stock association
shall be individually liable for all labol
performed for such corporation or a.
ISOLATION.
No change 10 made from See Of Art. X,
OF the present constitution.
Sec. 5. No corporation shall hold an,
real estate for n LONGER periot
than ten years. except such real estate
as shall be actually occupied by sucl
Corporation in the exercise Of IT. fran
slses
No change II made from Sec ~ OF Art Ky
fter the nrrt word estate the word
hereafter acquired" "a being unnecessary
Sec. 8. The legislature shall pass M
lw renewing or extending any apccia
81 OF incorporation heretofore granted
This Il a revision OF Sec. 3 Of Art. XIV q
Ne present constitution, which prohlhltc
iteriaF amending. renewing or extendin
~ act.of Incorporation granted before Il
toptom without the assent Of two-third
the members elected 90 each house. oxcer
20 municipal corporations The purpof
the revision In 20 entirely prohibit the ~
wing or extending Of any special act q
corporation.
Sec. I. The Legislature may. iron
me e. time. pass laws oatablshinl
asonable maximum rates OF charge
the transportation OF passenger
"a freight on different railroads q
IL state. AND MAY PASS LAW