Art _

Corporations — other than Municipal

Sec. 1.— Corporations may be formed under general laws but shall not be created by special acts. All laws relating to corporations may be altered, amended, or repealed by the legislature at any time when necessary for the public good and general welfare and all corporations doing business in this State may as to such business be regulated limited or restrained by law not in conflict with the Constitution and laws of the United States.

Sec 2 All powers and franchises of corporations are derived from the people and are granted by their agent, the government for the public good and general welfare and the right and duty of the State to control and regulate them for these purposes is herby declared.

The power, rights, and privaleges of any and all corporations may be forfeited by wilful neglect or abuse thereof.

The police power of the State is supreme over all corporations as well as individuals.

Sec. 3. All existing charters, franchises, special or exclusive privaleges under which an actual and bona-fide organization shall not have taken place and business been convened in good faith at the time of the adoption of this constitution shall thereafter have no validity.

Sec 4. Corporations shall not issue stock except to bonafide subscribers therefor as their assignees; nor shall any corporation issue any bond stock or other obligation for the payment of any money, except for money or property received or labor done.

The stock of Corporations shall not be increased without the consent of the persons holding the larger amount in value of the stock nor without due notice of the proposed increase barging been given and then only in persuance of general law.

Sec 5. The liability of no person corporation or association of persons shall ever be limited nor shall any law be enacted limiting the amount of damages to be recovered for causing the injury or death of any person any agreement as contract with any employee waiving any right to recover damages for causing the death or injury of any employee.

Sec 6 No corporation organized murder the laws of any other jurisdiction than this State and doing business in this state shall be entitled to acquire title to real estates, to exercise the right of eminent domain or have power to acquire right of way until it shall have accepted the constitution of this state and filed such acceptance in accordance with the laws of this state.

Sec 7 The legislature shall pass laws from time to time to correct abuses prevent unjust discriminations and regulate the tolls and transportation charges of all corporations as to business within this state and enforce such laws by adequate penalties.

Sec. 8 No corporation shall have power to engage in more than one general line as department of business which line of business shall be districtly specified in its charter of incorporation.

Sec 9 All corporations engaged in the transportation of persons, property, mineral oils, and mineral products, news or intelligence including Rail Roads, tellegraphs, express Companies pipe lines and tellephones are declared to be common carriers.

Sec. 10 There shall be no consolidation or combination of corporations of any kinds whatever to prevent competition to control or influence production or prices thereon as in any other manner to interfere with public good and general welfare.

Sec 11. All property real and personal belonging to any corporation shall be liable to execution and sale in same manner as the property of individuals

Sec. 12. Every stockholder in any corporation shall have the right to vote in person or by proxy the number of votes to which be is entitled for as many persons as there are directors or managers to be elected or he may cumulate all votes to which he may be entitled in favor of one candidate or more than one as he may deem best.

Sec 13 The exercise of the right of eminent domain shall never be so abridged or construed as to prevent the legislature from taking the property and franchises of incorporated companies and subjecting them to public use the same as the property of individuals.

Sec 14. The legislature shall provide by suitable legislation for the organization of mutual and cooperative associations as corporations.

Sec 15 No corporation stock company person or association of persons in this state shall directly or indirectly by transfer of stock or voting privaleges based thereon or by any other method combine with any other company or association of persons foreign or domestic by trustees or otherwise for the purpose of controling or regulating the cash transportation or selling price of any kind of property or productions whatever by controlling or regulating the distribution of dividends or profits or in any other manner.

The legislature shall pass laws not in conflict with the constitution and laws of the United States for the enforcement of this section by adequate penalties to the extent if necessary for that purpose of forfeiture of their charters and franchises or in case of foreign corporations prohibiting them from carrying on business in this State.

• Substitute for Files No. 11, 38, 42 and 72 [Convention] (introduced on 1889-09-23 00:00:00 - CREATE_FROM - e667028) [This document]

• Substitute for Files No. 11, 38, 42 and 72 [Convention] (introduced on 1889-09-23 00:00:00 - CREATE_FROM - e667028) [This document] [view current proposal at this moment]