Bisbee daily review., 1910-11-09

fuii: -Sectiop 1. Corporations may be forweA under general laws, but snail not he created by special act except for municipal purposes. All laws pass ed pursaaat to this section may oe amended, altered or repealed. The legislature shall by general law, pro vide fer the payment to the state or Arizona of a franchise tax by cor poratioas organized under the laws of this state, which shall be in pro portion to the amount of capital stock. but strickly benevolent, edu- catisaal or religious corporations shall not be required to pay such tax
 "Sectiua g All existing charters, under which a bona fde organization shaH sot have taken place and busi ness commenced in good faith within twelve months from the time of the approval of this constitution, shall thereafter have no validity.
 Section 2. The legislature shall not remit the forfeiture of the charter oe any corporation now existing. or alter or amend the same, nor pass any general or special law for the benefit of such corporation other than in exc eutiou of a trust created by law or by contract. except upon condition thai such corporation shall thereafter hold its charter subject to the pro visions of this constitution.
 Section i. The legislature shall not pass any law permitting the leasing Of or alienation of any franchise. so as So relieve the franchise or proper ty held hereunder from the liabilities of she lessor or grantor. lessee or grantee, contracted or incurred in the 2 operation, use or enjoyment of such franchise or any of its privileges.
 Section s. No corporation shall en gage in any business other than that expressly authorized in its charter, or the charter under which it may have been or may herefater be organ ized nor sihalb it hold for longer period than five years any real estate except such as may be necessary for carrying on its business.
 Section 6. No corporation organiz ed outside the limits of this state shall be allowed to transact business witAin this on more favorable condn tions than are prescribed by Jaw to similar corporations organized under the laws of this state; And To foreign corporation shall lse peru6dted to transact business within thss state un'ess said foreign corporation is by the laws of the country, stz1e, or territory, under | which it is formed, permitted to trans act a like business in the country, 1 state or territory of its creation.
 Seotion 'T- No corporation shall issue stock except for money. labor done. or property actually received to the amount Of the par value there of. and ali fictions increase of stock or indebtedness shall be void: and the legislature shall presfribe the necessary regulations to prevent the issue of fictitious stock or indebted ness. The stock and bonded indebted ness of corporations shall not be in creased except in pursuance of gener al law or without the consent of the persons holding the larger amount in value of the stock, first obtained at a meeting to be held after thirty days notice in pursuance of law.
 Sed&on' 8. No corporation shaH consent od the owners of two thirds of the stock of said corporation.
 Sectin g. No domestic or foreign corporation shall do any business ir this state without having one ol more known places and an authcriz ed agent or agents within the state upnR whom process may be served Sui may be maintained against { foreign corporation in the count. where sn agent of such corporations. may be found. or in the county O the residence of the plaintiff, or fl the county where the cause of. actior may arfse.
 Section 10. In all election flor di rectors or managers of any corpor, ton. each shareholder shall have th, right to cast as many votes in tn, aggregate as he shall be entitled t vote in said company under it's chart CT. mu1iried by the number of di rectors or managers to be eiecte, at such election: and each share holder may cast the whole numbe of votes. either in person or b. prdxy, for one candidate, or distribut such votes among two or more sucl candidates. and such directors O managers shall not be elected in an other manner.
 Section IL The stockholders e all corporations shall be indiyiduail and personally liable for indebted ness of said corporation to tn amount of the par value of thei stock subscribed and unpaid; and tn stockholders of all corporations sha be individually liable for all labc performed for such corporation.
 Section f2. The directors or tru tees of corporations shall be jointl and severa,iy liable to the creditor and stockholders for all moneys en bezzfeT or misappropriated hy tn officers of such corporation durin the term of office of such directc or trustee.
 Section 13. Monopolies and trus, shall never be allowed in the stat
 and no incorporated company. c partnership or association or persor In this state shall directly or indirec ly combine or make any contra, with any incorporated compan
 Foreign or domestic. through the
 stockholders or the trustees or a signs Of such stockholder, or vii ans co7partnership or association
 persons, or in any manner whatev'
 ro fix the prices. limit the prods
 ton or regulate the transportatie Of any product or commodity. 90 { 10 prevent competition in such pric