"Corporations
have such powers, and such only, as the act creating them confers; and are
confined to the exercise of those expressly granted, and such incidental powers
as are necessary for the purpose of carrying into effect powers specifically
conferred."
Elias Straus and Brother v. The Eagle Insurance Company of Cincinnati,
5 OS 60 (1855) Ohio Supreme Court
"The corporation has received vitality from the state; it continues during its
existence to be the creature of the state; must live subservient to its laws,
and has such powers and franchises as those laws have bestowed upon it, and
none others. As the state was not bound to create it in the first place, it is
not bound to maintain it"if it violates the laws or public policy of the state,
or misuses its franchises to oppress the citizens thereof."
The
State ex rel. v. The C.N.O. & T.P. Ry. Co., The State ex rel. v. The C.W.
& B. Ry. Co., 47 OS 130 (1890) Ohio Supreme Court
"The judgment sought against the defendant is one of corporate death. The state which created, asks us to destroy" The life of a corporation is, indeed, less than that of the humblest citizen... The abstract idea of a corporation, the legal entity, the impalpable and intangible creation of human thought, is itself a fiction, and has been appropriately described as a figure of speech.... the defendant corporation has violated its charter, and failed in the performance of its corporate duties, and that in respects so material and important as to justify a judgment of dissolution.... Unanimous."
NY State Court of Appeals, People v North River Sugar Refining Co., 24 N. E. 834 (1890)
Mike Ferner is a writer and activist from Ohio. Contact him at mike. Email address removed
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