Willcox v. Trenton Potteries Co... Williams v. Boice.. Williams v. Gaylord.... Willink v. Morris Canal & Banking Co..... Willoughby v. Chicago Junction Rys., etc., Co... Windmuller v. Standard Distilling & Distributing Co. Woolwich v. Forrest.... Worrell v. First Pres. Church. Wright v. First National Bank....... Z. Zabriskie v. Hackensack & N. Y. R. Co. .13, 55 56 GENERAL ACTS FOR SPECIFIC CORPORATIONS. The following table of the General Statutes of New Jersey, authorizing the formation of specific corporations, may be of interest: Agricultural Fairs-P. L. 1896, p. 183. Associations not for Pecuniary Profit-P. L. 1898; p. 422; 1899, p. 36; *Benevolent and Charitable Associations-G. S. 149; P. L. 1898, p. 165; 1899, p. 527; 1901, p. 401. Boroughs-P. L. 1897, p. 285. Building and Loan Associations-G. S. 331; P. L. 1899, p. 357; 1901, p. 102. Canals G. S. 2663. Cemeteries-G. S. 349; P. L. 1899, pp. 182, 324; 1901, pp. 64, 363; 1902, pp. 185, 254. Co-operative Societies-G. S. 893. Corporations not for Pecuniary Profit-See p. 181, supra. Drainage of Meadows-G. S. 2056. Electric Light, Heat and Power Companies-P. L. 1896, p. 322. Episcopal Churches-P. L. 1901, p. 104. Exempt Firemen, Associations of G. S. 1511. Fire Companies-G. S. 1479. Fire Departments-G. S. 1479. Fire Patrol--G. S. 1483. Firemen's Relief Associations-G. S. 1494; P. L. 1897, p. 342. Gas Companies-G. S. 1608; P. L. 1897, p. 202; 1900, p. 52; 1902, pp. 229, 277. Homes, Associations to Encourage Purchase—P. L. 1888, p. 231. Industrial Education-G. S. 3069. Insurance Companies-G. S. 1744; P. L. 1896, pp. 129, 156; 1898, p. 435; 1899, pp. 17, 25; 1900, p. 327; 1901, p. 406; 1902, p. 407. Labor Unions-G. S. 154. Land Improvement Companies—G. S. 1905. *Libraries, Lyceums, etc.-G. S. 1944; P. L. 1897, p. 189. Life Insurance-P. L. 1897, p. 257; 1900, p. 33; 1902, p. 407. Limited Partnership Associations-G. S. 2440; P. L. 1901, p. 74. *Repealed, P. L., 1899, p. 189. XXVI GENERAL ACTS FOR SPECIFIC CORPORATIONS. Navigation Companies-G. S. 2316. Patriotic Societies-P. L. 1897, p. 149. Plank Road Companies-G. S. 2473; P. L. 1901, pp. 290, 292. Religious Societies-G. S. 2735; P. L. 1898, pp. 141, 397; 1899, pp. 36, 256; 1900, p. 407; 1901, pp. 104, 401. Safe Deposit Companies-P. L. 1899, p. 468. Savings Bank-G. S. 3000. P. L. 1896, p. 197; 1901, p. 221; 1902, pp. 242, 361. Seaside Associations-G. S. 337. * Sewage Companies-G. S. 2190; P. L. 1898, p. 484. Steam Heat and Power Companies-P. L. 1896, p. 317. Street Railway Companies-G. S. 3208; P. L. 1896, pp. 155, 329; 1900, pp. 328, 479; 1901, p. 298. Surety Companies-G. S. 3260. Telegraph Companies-G. S. 3457; P. L. 1900, p. 74. Traction Companies-G. S. 3235; P. L. 1896, p. 155; 1900, pp. 328, 479; 1901, p. 298. Trust Companies-P. L. 1899, p. 450; 1902, p. 235. Turnpike Companies—G. S. 3690; P. L. 1880, p. 181. Water Companies—G. S. 2199; P. L. 1897, p. 384; 1898, p. 192. Women's Work Exchanges—P. L. 1897, p. 208. "G. S." refers to the General Statutes of New Jersey, edition 1896. THE GENERAL CORPORATION LAW OF NEW JERSEY. LAWS OF 1896, CHAPTER 185. Being "An Act Concerning Corporations (Revision of 1896)," including the amendments and supplements to the end of the legislative session of 1902. 1.-Powers. 1. Every corporation shall have power: I. To have succession, by its corporate name, for the period limited in its charter or certificate of incorporation, and when no period is limited, perpetually; II. To sue and be sued in any court of law or equity; III. To make and use a common seal, and alter the same at pleasure; IV. To hold, purchase and convey such real and personal estate as the purposes of the corporation shall require, and all other real estate which shall have been bona fide conveyed or mortgaged to the said corporation by way of security, or in satisfaction of debts, or purchased at sales upon judgment or decree obtained for such debts; and to mortgage any such real or personal estate with its franchises; the power to hold real and personal estate shall include the power to take the same by devise or bequest; V. To appoint such officers and agents as the business of the corporation shall require, and to allow them suitable compensation; VI. To make by-laws fixing and altering the number of its directors, and providing for the management of its property, the regulation and government of its affairs, and the transfer of its stock, with penalties for the breach thereof not exceeding twenty dollars; VII. To wind up and dissolve itself, or be wound up and dissolved in manner hereafter mentioned. P. L. 1846, p. 16; P. L. 1846, p. 65; P. L. 1849, p. 301; P. L. 1872, p. 77; Act of 1875, §1. I. To have succession.-The Corporation Act of 1875 limited corporate existence to fifty years. Companies formed under the Act of 1875 may now have the period of their corporate existence extended or made perpetual by complying with the provisions of Section 27, post. As to corporate name, see notes, Section 8. II. To sue, etc. The power to sue and be sued implies also the power to compromise suits (Ellerman v. Chicago Junc. Rys., &c., Co., 49 N. J. Eq., 217). Individual stockholders are not the proper parties to sue or defend on behalf of corporate interests without the consent of a legal majority of the stockholders (Silk Mfg. Co. v. Campbell, 27 N. J. Law, 539). But a stockholder may sue in equity in his own name to enforce a right of the corporation, without first requesting the directors to sue, when it is made to appear that if such request had been made it would have been refused, or, if granted, that the litigation following would necessarily be subject to the control of persons opposed to its success (Knoop v. Bohmrich, 49 N. J. Eq., 82; Ackerman v. Halsey, 37 N. J. Eq., 356; s. c., 38 N. J. Eq., 501). It is not necessary for a corporation plaintiff to allege its incorporation (German R. Church v. Von Puechelstein, 27 N. J. Eq., 30). A corporation may sue for a libel against it in its business, but special damage must always be shown (Trenton Mut. Life Ins. Co. v. Perrine, 23 N. J. Law, 402). A corporation may be sued for a tort in which the element of evil intent is involved. It may be sued for malicious prosecution, for libel and for assault and battery (State v. Passaic, &c., Soc., 54 N. J. Law, 260, 265; Vance v. Ry. Co., 32 N. J. Law, 334; McDermott v. Evening Journal Assn., 43 N. J. Law, 488; 44 N. J. Law, 430; Brokaw v. Ry. Co., 32 N. J. Law, 328). A corporation is liable for the torts of its agents and is liable for the acts of its agents done by its authority, express or implied (State v. Ry. Co., 23 N. J. Law, 360; Brokaw v. Ry. Co., 32 N. J. Law, 328). |