Attorney General v. Petersburg & Roanoke Rail Road
Supreme Court of North Carolina
This is an information, filed in this Court, on the 19tli of Jannary, 184(5, by the 'Attorney General, charging a forfeiture of the charter of the corporation.
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This is an information, filed in this Court, on the 19tli of Jannary, 184(5, by the 'Attorney General, charging a forfeiture of the charter of the corporation. The information states, “ that by an act of the General Assembly, passed in the year 1830,, entitled an act,” &c. it is enacted, “ that books be opened for the purpose of receiving subscriptions to the amount of #400,000, to constitute a joint capital stock for the purpose of making a rail road from some point, within the corporation of Petersburg, in Virginia, to some convenient point on the north bank of Roanoke river, between the…
1Opinion of the CourtRuffin, C. J.
The act of 1831, Rev. St. c. 26, authorizes two modes of proceeding at the instance of the public against corporations. The one is by bill of the Attorney General in the Court of Equity, to restrain them by injunction from assuming or exercising any franchise, or transacting any business not allowed by the charter. This part of the act is applicable only when the purpose is not to dissolve the corporation by a judicial decision, but to preserve it, in order that its useful functions may be performed, and, at the same lime, that it may not be abic to abuse its powers or transcend them. The…
2Cited by14 opinions
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