corporationsoutsideof this State,not exoeedingone in aw ststte, ter- ritory or foreigncountry,whose purposesand pouers exercisedshallbe only those coaferredby law upon the formingor holdingsoorporationaa inoorporatedunder the lam of Texas,and om and hold the stook of suoh oorporationwhen the effeot of such formationor stock holdingis not substantially to lessen competitionor otherwiseto violate laws probib- iting trusts rmd monopoliesand ooaspiraoiesia restraintof trade. (Acts 1915, p. 82.)'
~lbbeliem,.thata corporationpreviouslyoreatedunder Subdivl- sion 36 of Article 1302, or holdinga foreignpermitthereuuder,,~Qnuldbe requiredto speoifioallyadopt the provisionsof Chapter15, suprr,ia order to avail itself of the advantagesaffordedthereby. 3ttis our fur- ther opinionthat a corporationoreatedunder Subdivision37 of such &tiole, or holdinga foreignpermitthereunder,oould hot adopt the _ .- - A
Hon. Will harm Riohardaon,page 3 (O-3003)
provisionsthereof.
He believethere is suoh a differenoein Subdivisions36 and 37 as toibllwithin the prohibitionoontainedin Article1314, Vernon'sAkmotated Civil Statutes,to the effeeof that:
sNo amendmentor ohmgo violativeof the Constitutioaor lawe of this State or say provisionof this title or which so ohangesthe original purposeof suoh oorporationa8 to preventthe executionthereof,shall bs of any foroe or effect."
It is our opinion,therefore,that a foreign oorporatioaholdinga permitunder Subdivision37 of Artiole 1302 may not amead its psmnit so as to ohenge its purposeto that authorisedly Subdivision36 thereofin order to avail itselfof the provisionsof Chapter15, supra. It muld be required to surrenderits presentpermitandtake out a new one under Subdivision36, and to specificallyadopt the provisionsof Chapter15. Of ooursethis aould not be done unlessthe purposeolausecontainedin the oharterof the oorpor- ationwas sufficientlybroad to permit au applioationunder Subdivision36.
He do not mean to hold that all foreigncorporatioasseekinga per- mit totransaotbusinessintie State uuder Subdivision36 of ktiole 1302 0~11, as a matter of right, adopt the,provlsions of Chapter16, supra. It is neo- essaryto ascertain from the charterof the corporationwhether or mot suoh corporationhas the rightsand privilegesaffordedby Chapter15 in the state of its oreation. If it has suoh rightsad powers in the state which granted the charter,it may adopt the provisionsof Chapter15, and thus acquirethe ssme rights ia Texas. On the other hand, if it does not have such rightsin the state of its creation,it may not acquirethem in this State by virtue of an attemptedadoptionof Chapter15.
A corporation,besing solely a creatureof law, oaa have ao power beyondthat of the law whi'ohgives it birth. Its capaoltyto a& throughits agents out&de of the territoriallimits of the jurlsdiotionwhichcreatedit must, in any given ease, be determinedprimarilyly its charterand the laws of the state or sovereigntyunder and by virtue of whioh it hasbeen created and fromwhich it has derivedits fFArJOhi8e. It is always subjectto these laws, and they have a parmsountinfluenceover its oorporatepowerswherever it undertakesto exeroisetherm. Indeed,it is saidthat it oan have no oapa- citiesand oaa exerciseno powers anywherewhich are not expresslyor by im- pliaationgiven by the laws of the statewhich createdit. Its oorporate onmoitg and powersoannot be enlargedor ohangedby the laws of the other statesinwhioh it is psrmfttedto do business,exceptby reinoorporation of the associationthere. See Annotation44 A.L.R. 16; 47 A.L.R. 15641 97 A.L.R. 4773 119 A.L.R. 464; see also 23 Am. Jur. pp. 83-85 and 23 Am. Jur. Foreign aorporations880. 790 AFPROVND JULY 2, 1942