Hudson-Harlem Valley Title & Mortgage Co. v. White

The charter granted by the Legislature to the defendant Title Guarantee and Trust Company under its original name, German-American Loan and Trust Company of New York, expressly reserved the right thereafter to revise or limit the corporate powers conferred (Laws of 1882, chap. 392, § 16). When the scope of corporate powers was broadened the following year, the reservation nevertheless continued, since the act of 1883 (Chap. 367) amended only sections 2 and 9 and did not affect section 16. Neither act limits the place of exercise of the powers conferred. Unless the Legislature be deemed…