Trustees of the University v. North Carolina Rail Road
Supreme Court of North Carolina
Statute Conflict of, with Constitution. Civil AotioN, tried at Fall Term, 1876, of AlamaNce Superior Court, before Kerr, J. The plaintiffs alleged, that they were entitled to all the dividends declared by any corporation chartered under the .laws of this State, which have not been recovered or claimed by the parties entitled thereto, for five years after said dividends were, declared, by virtue of the provisions of Chapter-236, Laws 1874-’5; that the defendant company had,…
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Statute Conflict of, with Constitution. Civil AotioN, tried at Fall Term, 1876, of AlamaNce Superior Court, before Kerr, J. The plaintiffs alleged, that they were entitled to all the dividends declared by any corporation chartered under the .laws of this State, which have not been recovered or claimed by the parties entitled thereto, for five years after said dividends were, declared, by virtue of the provisions of Chapter-236, Laws 1874-’5; that the defendant company had, at divers times, declared dividends to its stockholders, which dividends have remained unpaid for moré than five years,,…
1Opinion of the CourtBynum, J.
The Constitution of the State, Art. IX, § 6, declares “ that all the property which has heretofore accrued to the State, of shall hereafter accrue from escheats, unclaimed dividends, or distributive' shares of the estates of deceased persons, shall be appropriated to the use of the University.”
Purporting to carry into effect this constitutional provision, the Legislature, by an Act ratified the 22nd of March, 1875, enacted: “That all dividends heretofore declared, or which shall hereafter be declared, by any corporation, company or association, whether chartered or not, which shall not be…
2Cases cited4 opinions
- Boyd's Lessee v. GravesSupreme Court of the United States · 1819
- Wilkinson v. LelandSupreme Court of the United States · 1829
- TERRETT & OTHERS v. Taylor & OthersSupreme Court of the United States · 1815
- Gordon v. Appeal Tax CourtSupreme Court of the United States · 1845
3Cited by8 opinions
- Fidelity & Columbia Trust Co. v. MeekCourt of Appeals of Kentucky (pre-1976) · 1943
- McDonald's Corp. v. DwyerSupreme Court of North Carolina · 1994
- McMillan v. Robeson CountySupreme Court of North Carolina · 1964
- Farrell v. Garfield Mining, Milling & Smelting Co.Supreme Court of Colorado · 1910
- In Re the Estate of BulisSupreme Court of North Carolina · 1954
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