§ 5679. Penalty for Refusal to Obey Order of Court. (p. 959; 5680. Actions to have Precedence. (p. 959)

5681. Procedure in Supreme Court; Jury. (p. 959)

5682. Appeals. (p. 959)

BUILDING AND LOAN ASSOCIATIONS

Stats. 1915, 341, 3 Revised Laws, p. 2683

1. Right to Incorporate; Conditions; Articles. (p. 960)

5. Repayment of Loans; Withdrawal or Death of Stockholder. (p. 961)

6.

Foreign Associations; Statement; Certificate. (p. 962)

8. Penalty for Refusal to Submit to Examination. (p. 963)

9. Forfeiture for. Illegal Acts. (p. 963)

§ 1.

NONPROFIT CO-OPERATIVE ASSOCIATIONS

Stats. 1920-1921, Chap. 236, p. 366

Qualification of Members; Powers. (p. 964)

2. No Capital Stock; Certificates of Membership. (p. 965) 3. Articles of Incorporation. (p. 965)

4. By-laws. (p. 966)

5. Powers; Consolidation; Dissolution. (p. 967)

6.

Amendment of Articles. (p. 968)

7. Quo Warranto Proceedings. (p. 968)

8. Application of Act to Certain Corporations. (p. 969)

9. Unequal Voting Power and Property Rights; When Act in Effect. (p. 969)

CONSOLIDATION OF MINING CORPORATIONS

Revised Laws 1912

§ 1216. Right to Consolidate; Procedure. (p. 969)

1217. Consent of Stockholders; Proxy. (p. 970)

1218. Consolidation of Foreign and Domestic Corporations; Agent.

(p. 970)

FORMS

Form of Articles of Incorporation.

Constitutional Provisions

Constitution, Article VIII

§1. Incorporation Under General Laws.

The legislature shall pass no special act in any manner relating to corporate powers except for municipal purposes; but corporations may be formed under general laws; and all such laws may from time to time, be altered or repealed.

Special privileges. A statute attempting to give a right to exercise corporate powers not provided for in the general law, and to grant a special privilege to one corporation that cannot under the then isting laws be enjoyed by any other, violates this provision. State ex rel. Keith v. Dayton & V. Toll-Road Co., 10 Nev. 155.

§ 2. Taxation of Property.

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All real property, and possessory rights to the same, as well as personal property in this state, belonging to corporations now existing or hereafter created shall be subject to taxation, the same as property of individuals; provided, that the property of corporations formed for municipal, charitable, religious or educational purposes may be exempted by law.

§3. Liability of Stockholders.

Dues from corporations may be secured by such means as may be prescribed by law; provided, that corporators in corporations formed under the laws of this state shall not be individually liable for the debts or liabilities of such corporation.

§ 4. Territorial Corporations.

Corporations created by or under the laws of the Territory of Nevada shall be subject to the provisions of such laws, until the legislature shall pass laws regulating the same, in pursuance of the provisions of this Constitution.

§ 5. Power to Sue and be Sued.

Corporations may sue and be sued in all courts, in like manner as individuals.

§ 7. Compensation for Right of Way.

No right of way shall be appropriated to the use of any corporation until full compensation be first made or secured therefor.

§ 9. State not to Donate or Loan Money or Credit or be Interested in Stock.

The state shall not donate or loan money, or its credit, subscribe to, or be interested in the stock of any company, association or corporation, except corporations formed for educationa! or charitable purposes.

§ 10. Municipal Corporations not to be Stockholders or Loan Credit to Corporations.

No county, city, town, or other municipal corporation shall become a stockholder in any joint stock company, corporation, or association whatever, or loan its credit in aid of any such company, corporation, or association, except railroad corporations, companies, or associations.

Bonds to aid railroad. The legislature may authorize a county to aid a railroad by a donation, and to issue bonds for that purpose and to levy a tax to pay the same and interest thereon, Gibson v. Mason, 5 Nev. 283.

Domestic Corporation Law of 1925

(Approved March 21, 1925; Stats. 1925, Chap. 177, p. 287.)

§ 1. To Whom Provisions of Act Apply.

The provisions of this act shall apply to corporations hereafter organized in this state, except such corporations as are expressly excluded by the provisions of this act; it shall also apply to corporations which are consolidated, or which shall reincorporate hereunder, in the manner provided in section 82 hereof, and to no other corporation.

§ 2. Repeal or Amendment of Act.

This act may be amended or repealed at the pleasure of the legislature, and every corporation created under this act, or availing itself of any of the provisions of this act, and all stockholders of such corporation shall be bound by such amendment; but such amendment or repeal shall not take away or impair any remedy against such corporation, or its officers, for any liability which shall have been previously incurred; this aet, and all amendments thereof, shall be a part of the charter of every such corporation, except so far as the same are inapplicable and inappropriate to the objects of such corporation.

§3. How Corporation may be Formed-Duties of Secretary of State.

Any number of persons, not less than three, may associate to establish a corporation for the transaction of any lawful business, or to promote or conduct any legitimate object or purpose, under the provisions and subject to the requirements of this act, by making, subscribing, acknowledging and filing in the office of the secretary of state articles of incorporation, or a certificate of incorporation; and filing a copy thereof, certified under the hand and official seal of the secretary of state, in the office of the clerk of the county in which the principal place of business of the company is intended to be located. Said articles of incorporation, or certificate of incorporation shall be as provided in section 4 of this act, and it shall be the duty of the secretary of state to require the same to be in the form so prescribed, and that the name of the proposed corporation distinguishes it from any other corporation at that time organized or existing under and by virtue of the laws of the state of Nevada; and if any such articles or certificates shall be defective in either respect, the secretary of state shall return the same for correction.

§ 4. Articles of Incorporation; Certain Corporations may not be Formed Under Act.

The certificate or articles of incorporation shall set forth:

1. The name of the corporation (which name shall end with the word "Incorporated," or shall contain one of the following words, used therein as a substantive noun, "Association," "Company," "Corporation," "Club," "Society," "Syndicate"), and shall be such as to distinguish it from any other formed or incorporated in this state, or engaged in the same business, or promoting or carrying on the same objects or purposes in this state.

2. The name of the county, and of the city or town, and of the place within the county, city, or town in which its principal office, or place of business is to be located in this state, giving the street and number wherever practicable; and if not so described as to be easily located within the said county, city or town, the secretary of state shall refuse to issue his certificate until such location is marked and established.

3. The nature of the business, or objects or purposes proposed to be transacted, promoted or carried on by the corporation.

4. The maximum number of shares with nominal, or par value, and the maximum number of shares without nominal or par value, that the corporation is authorized to have outstanding at any time, the classes, with the distinguishing character

istics of each, if any, into which the same are divided, and the nominal or par value of the shares of stock other than shares which it is stated are to have no nominal or par value.

5. The amount of capital stock with which the corporation will begin business, which shall not be less than five hundred ($500) dollars.

6. Whether the members of the governing board shall be styled directors or trustees of the corporation, and the number of such directors or trustees, which shall not be less than three (3). The names and post office addresses of the first board of directors or trustees.

7. Whether or not capital stock, after the amount of the subscription price, or par value, has been paid in shall be subject to assessment to pay debts of the corporation, and, unless provision is made in such original certificate or articles of incorporation for assessment upon paid-up stock, no paid-up stock, and no stock issued as fully paid up, shall ever be assessable, or assessed, and the articles of incorporation shall not be amended in this particular.

8. The name and post office address of each subscriber of the certificate or articles of incorporation, and a statement of the number of shares of stock which he agrees to take.

9. Whether or not the corporation is to have perpetual existence, and, if not, the time when its existence is to cease.

10. The certificate or articles of incorporation may also contain any provision which the incorporators may choose to insert for the regulation of the business and for the conduct of the affairs of the corporation, and any provisions creating, defining, limiting and regulating the powers of the corporation, and the rights, powers or duties of the directors or stockholders, or any classes of stockholders, or holders of the bonds, or other obligations of the corporation, or providing for governing the distribution or division of the profits of the said corporation; provided, such provisions are not contrary to the laws of this state.

Provided, however, that corporations may not be formed under this act to conduct in this state the business of banking companies, trust companies, building and loan associations, insurance companies, mutual fire insurance companies, surety companies, express companies, railroad companies, corporations not for profit, but a corporation may be incorporated under this act to transact the business of an insurance company, life, fire, marine, or accident, or other form of insurance, or of a surety company, or of a railroad company, to operate wholly without this state, and may unite the powers to conduct such business without this