Western N. C. Railroad v. Rollins
Supreme Court of North Carolina
CONTROVERSY submitted without action under section 315 of the code, and heard at Fall Term, 1879, of Buncombe Superior Court, before Graves, J. The plaintiff company claims the right to recover all the property of the Western Division of the Western North Carolina railroad company in the hands of the defendant who was president of said Western Division, and the defendant resists the same upon the ground that the act of assembly dissolving the Western Diyision and…
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CONTROVERSY submitted without action under section 315 of the code, and heard at Fall Term, 1879, of Buncombe Superior Court, before Graves, J. The plaintiff company claims the right to recover all the property of the Western Division of the Western North Carolina railroad company in the hands of the defendant who was president of said Western Division, and the defendant resists the same upon the ground that the act of assembly dissolving the Western Diyision and transferring its property to the plaintiff, is unconstitutional and void. Upon consideration of the question, His Honor was of…
1Opinion of the Court
Corporations — Legislative Power — Altering or RepealingCharter Trusts and Trustees.
1. The legislature has the power, under section one, article eight, of the constitution, to alter or repeal all general laws and special acts by which corporations, associations and joint stock companies are formed.
2. Where the dissolution of a corporation is had by act of assembly or by decree of court, it is proper to appoint a suitable person by the repealing act, or a receiver by the court, to collect and apply the assets of the annulled body in the discharge of its liabilities. And it is competent to…
2Cases cited1 opinion
- New Jersey v. YardSupreme Court of the United States · 1877
3Cited by9 opinions
- Farnsworth v. Muscatine Produce & Pure Ice Co.Supreme Court of Iowa · 1916
- Detroit Trust Co. v. AllingerMichigan Supreme Court · 1935
- Marshall v. Western North Carolina RailroadSupreme Court of North Carolina · 1885
- Isley v. . Bridge Co.Supreme Court of North Carolina · 1906
- Bradley v. O. R. & C. Ry. Co.United States District Court · 1897
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