The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-10-03
ARTICLE tvIu.l NJ.

>e,;.nn e. Corporations m1r be- formed
u1aer general Laws. ou' shall not be
-r'g 600 in special oct. except io. mamie
pal purposes, aal ire ,tsc' where, IN 'l"
ud-u"u ~ the legislature, j" objects
-. trH corporation ammo hn 1i'alh"l
.r .e- conceal laws AZ genera laws aua
on mry 80 altered from '!'lc 20 aim "r
.grtr''a-
is secured l.! >Gsh iadiviiual Liability %
tfC ,sn ra'or> ANA Other means as mas
",;i"n %. tn" term corporations rs used
GA tUfr ag'i,.. shall be construed 20 la
n. q. .-'.ia'.uUs Ild joint stock con-
r.u.ps having any - th" powers nr priyi-
Ity4auals nr ptr;uc' alps Ana all corr
p.;,,lru- shall have tn" 'Ight 10 sG" and
lik. cases as natural persons.
section l. Tho legislature shall. by
Genera. law, conform al charters ~ say
n uniformity ~ powers. rights and ll1hili-
'ics, 'uf a. charters hereafter granted tr
.u.n corporations shs,l Ice n.ir - com
,.~., p, such general 'aV. and TO such
t~w.nduouts a- may h' :" ado ;h'"";p. Ana
40 such corporation shall hav" any cap'tu
ans II tn N. have an! I'm" :ns' "htt"sol,
direct or Indirect. Iu tine profits ~ such
amy such bank ar institution shah loo In
'croS'cl il any loan ~ U.s. Il amy money
~ property OF suLh b'nl! or 'Hsi'tu-
tiou for savings. The legislature shall
granting amy sp,ci7i charter for b'nNine
p'~ros"s. hut corporations or nssocIl''"0S
mag h' formed for such purnascs u0d"r
general laws
section ;. rho ssislature shall have no
manner, directly or ind!rectly, The suspcn-
sion Of specie payments, by any person, as
ISOLATION or corporation, issuing hank notes
Of any description,
Section T.. The legislature shat provide
by law for the registry Of all bills or notes,
issued or put In circulation rs moHoy, ana
shall require ample security fpT tin re-
demption OF the same In specie
section = The stock holder Of every
corporation and Joint stock association for
banking purposes. shal be individually re.
share or shares OF stock In any such cor
poratlon or associetion,, for all its debts
and Liabilities OF every kind.
section : In case of the insolvency ~
anv bank or banking association. the bill
holders thereof shalt he entitled To pref
section .. Neither the credit nor the
money OF the state shall be given or loaned
- @" in aid OF any association, corpora ton
or private undertskine This section shall
not, however, prevcn, the legislature from
and supper; ~ the blind. the dear and
dumb, and juvenile de!inqucnts, as to II
may seem proper. Nor shall it apply 10
any fund or property now held, or which
may horcafter be held, by the state FOR
educational purposes.
section 10, No county, city, town or
u ~ 49, WIG '''''N VI
pi opcrty. or loan its money or credit 10 ~
in aid Of any Individual, association or cor
poratinn. or become directly or indirectly
the owner OF stock In, or bonds OF, any
association or corporation: nor shall any
such county, city, town or village be al
lowed TO incur any Indebtedness except for
county. city. Town or village purposes. This
section shall, not prevent such county, city,
town or village from making such PRO
vision for the aid ~ support of Its poor us
may he authorized by law,
section y. lrart Of : 10 OF present ar,
ticlc cight,I No county or city shah b,
allowed to become Indebted for any pur,
pose or In any manner to an amount
which, including existing Indebtedness
shan exceed ten per c.ntum ~ the assrsscd
valuation Of the rcal estate Of such county
or ci'y subject 4" taSation, as It appeared
by the assessment rol : Of IsiidI such
county or city On the last assessment foI
> state or Cuunty taxes prior to the invurrlnp
oi such Indebtedness, aud all Indebtedness
Ia cNcess Of such limitation, except such
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Note:-Aattsr In bolJfaes 10 new: mat.
ier Ia brackets [ Is to hs omitted.