A
general incorporation law allows
corporationA corporation is a legal entity separate from the shareholders and employees. In British tradition it is the term designating a body corporate, where it can be either a corporation sole or a corporation aggregate...
s to be formed without a
charterA charter is the grant of authority or rights, stating that the granter formally recognizes the prerogative of the recipient to exercise the rights specified...
from the
legislatureA legislature is a type of deliberative assembly with the power to pass, amend and repeal laws. The law created by a legislature is called legislation or statutory law...
. It also refers to a law enabling a certain type of corporation, such as a railroad, to exercise
eminent domainEminent domain , compulsory purchase , resumption/compulsory acquisition or expropriation is the inherent power of the state to seize a citizen's private property, expropriate property, or seize a citizen's rights in property with due monetary compensation, but...
and other special rights without a charter from the legislature.
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A
general incorporation law allows
corporationA corporation is a legal entity separate from the shareholders and employees. In British tradition it is the term designating a body corporate, where it can be either a corporation sole or a corporation aggregate...
s to be formed without a
charterA charter is the grant of authority or rights, stating that the granter formally recognizes the prerogative of the recipient to exercise the rights specified...
from the
legislatureA legislature is a type of deliberative assembly with the power to pass, amend and repeal laws. The law created by a legislature is called legislation or statutory law...
. It also refers to a law enabling a certain type of corporation, such as a railroad, to exercise
eminent domainEminent domain , compulsory purchase , resumption/compulsory acquisition or expropriation is the inherent power of the state to seize a citizen's private property, expropriate property, or seize a citizen's rights in property with due monetary compensation, but...
and other special rights without a charter from the legislature.
United States
In 1795,
North CarolinaNorth Carolina is a state located on the Atlantic Seaboard in the southeastern United States. The state borders South Carolina and Georgia to the south, Tennessee to the west and Virginia to the north. North Carolina contains 100 counties...
was the first state to pass such a law.
MassachusettsThe Commonwealth of Massachusetts is a state in the New England region of the northeastern United States. It is bordered by Rhode Island and Connecticut to the south, New York to the west, and Vermont and New Hampshire to the north; at its east lies the Atlantic Ocean. Most of its population of...
came next in 1799, with
New YorkNew York is a state in the Mid-Atlantic and Northeastern regions of the United States and is the nation's third most populous. The state is bordered by New Jersey and Pennsylvania to the south, and Connecticut, Massachusetts and Vermont to the east...
in 1811 and
ConnecticutConnecticut is a state in the northeastern United States. It is bordered by Rhode Island to the east, Massachusetts to the north, and New York to the west and south ....
in 1837.
Railroads
- Ohio
Ohio is a Midwestern state of the United States. The thirty-fourth largest state by area in the U.S., it is the seventh-most populous with nearly 11.5 million residents...
: May 1, 1852
- New Jersey
New Jersey is a state in the Mid-Atlantic region of the United States. It is bordered on the north by New York, and to the east by the Hudson River, Upper New York Bay, the Kill Van Kull, Newark Bay, the Arthur Kill, Raritan Bay, Sandy Hook Bay, Westchester County, New York City, Long Island, and...
: April 2, 1873 (breaking the Camden and Amboy Rail Road's monopoly and allowing for the National RailwayThe National Railway or National Air Line Railroad was a planned railroad between New York City and Washington, D.C. in the United States around 1870...
project)