SOME COMMENTS ON THE RESERVED POWER TO ALTER, AMEND AND REPEAL CORPORATE CHARTERS

The old theories as to the nature, creation and powers of corporations which during the last hundred years have been obscured, but today are coming more and more to the fore in legal literature, in the adjudications of the courts, and in recent revisions of corporation acts suggest a re-examination of the power of state legislatures to alter, amend and repeal corporate charters under the reservations contained in many state constitutions and statutes, both as related to those theories and as they apply to recent and impending social and economic changes.