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Section 5 - Acquisition of Land for Highway Construction

Recommended The General Assembly may au- Repeal. thorize cities to take more land and property than is needed for actual construction in the laying out, widening, extending or relocating highways or streets connecting with bridges crossing streams or tunnels under streams which form boundaries between this and any other state, but the additional land and property, so authorized to be taken, shall not be more than sufficient to form suitable building sites on such highways or streets. Nor shall the authority hereby conferred be exercised in connection with the laying out, widening, extending or relocating of any highway or street at a point more than three miles distant from the approach to any such bridge or tunnel. After so much of the land and property has been appropriated for such highways or streets as is needed therefor, the remainder may be sold or leased and any restrictions imposed thereupon which will preserve or enhance the benefit to the public of the property actually needed for the aforesaid public use.

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Section 2 - Conditions Imposed on Certain

Benefits to Corporations

Recommended The General Assembly shall not No Change. remit the forfeiture of the charter of any corporation now existing, or alter or amend the same, or pass any other general or special law for the benefit of such corporation, except upon the condition that such corporation shall thereafter hold its charter subject to the provisions of this Constitution.

Section 3 - State's Right of Eminent Domain

Recommended The exercise of the right of emi- No Change. nent domain shall never be abridged or so construed as to prevent the General Assembly from taking the property and franchises of incorporated companies, and subjecting them to public use, the same as the property of individuals, and the exercise of the police power of the State shall never be abridged or so construed as to permit corporations to conduct their business in such manner as to infringe the equal rights of individuals or the general well-being of the State.

Section 4 - Corporate Elections

Recommended In all elections for directors or No Change. managers of a corporation each member or shareholder may cast the whole number of his votes for one candidate, or distribute them upon two or more candidates, as he may prefer.

Section 5 - Foreign Corporations

Recommended No foreign corporation shall do Repeal. any business in this State without having one or more known places of business and an authorized agent or agents in the same upon whom process may be served.


Section 6 - Corporate Powers; Real Estate

Recommended No corporation shall engage in Repeal. any business other than that expressly authorized in its charter, nor shall it take or hold any real estate except such as may be necessary and proper for its legitimate business.

Section 7 - Stocks and Bonds; Increase of Indebtedness

Recommended Repeal.

Current No corporation shall issue stocks or bonds except for money, labor done or money or property actually received; and all fictitious increase of stock or indebtedness shall be void. The stock and indebtedness of corporations shall not be increased except in pursuance of general law.

Section 8 - Compensation for Property Taken

Under Right of Eminent Domain

Recommended No Change.

Current Municipal and other corporations and individuals invested with the privilege of taking private property for public use shall make just compensation for property taken, injured or destroyed by the construction or enlargement of their works, highways or improvements, which compensation shall be paid or secured before such taking, injury or destruction. The General Assembly is hereby prohibited from depriving any person of an appeal from any preliminary assessment of damages against any such corporations or individuals made by viewers or otherwise; and the amount of such damages in all cases of appeal shall on the demand of either party be determined by a jury according to the course of the common law.

Section 9 - Banking Laws

Every banking law shall provide Repeal.
for the registry and countersigning,
by an officer of the State, of all
notes or bills designed for circula-
tion, and that ample security to the
full amount thereof shall be depos-
ited with the Auditor General for
the redemption of such notes or

Section 10 - Revocation and Alteration of Corporate

Charters; New Charters

Recommended The General Assembly shall have All charters of private corporathe power to alter, revoke or annul

tions now existing and revocable at any charter of incorporation now the adoption of this amendment existing and revocable at the adop- may be altered, revoked or antion of this Constitution, or any that nulled, if in the opinion of the may hereafter be created, whenever General Assembly they may be in their opinion it may be injurious injurious to the citizens of this to the citizens of this Common- Commonwealth, in such manner wealth, in such manner, however, that no injustice shall be done to that no injustice shall be done to the corporators. All laws heretofore the corporators. No law hereafter or hereafter adopted by the Genenacted shall create, renew or ex- eral Assembly dealing with the fortend the charter of more than one mation and regulation of private corporation.

corporations and prescribing the powers, rights, duties and liabilities of private corporations, their officers, directors and shareholders, may be amended, repealed or revoked.

Section 11 - Incorporation and Powers of Banks and

Trust Companies

The General Assembly shall have Repeal.
the power by general law to provide
for the incorporation of banks and
trust companies, and to prescribe
the powers thereof.

Section 12 - Regulation of Telegraph Lines

Any association or corporation Repeal.
organized for the purpose, or any
individual, shall have the right to
construct and maintain lines of tele-
graph within this State, and to con-
nect the same with other lines, and
the General Assembly shall, by gen-
eral law of uniform operation, pro-
vide reasonable regulations to give
full effect to this section. No tele-
graph company shall consolidate
with, or hold a controlling interest
in the stock or bonds of, any other
telegraph company owning a com-
peting line, or acquire, by purchase
or otherwise, any other competing
line of telegraph.

Section 13 - Meaning of Term "Corporations”

Recommended The term "corporations” as used Repeal. in this article shall be construed to include all joint stock companies or associations having any of the powers or privileges of corporations not possessed by individuals or partnerships.

Section 1 - To be Public Highways and Common Carriers

Recommended All railroads and canals shall be Repeal. public highways and all railroad and canal companies shall be common carriers. Any association or corporation organized for the purpose shall have the right to construct and operate a railroad between any points within this State, and to connect at the State line with railroads of other States. Every railroad company shall have the right

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