Lyons Commercial Law a Text book for Schools And Colleges And a book of Refere
Lyons Commercial Law a Text book for Schools And Colleges And a book of Refere
James a Lyons
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But it is not a common form of corporation in this country. This right of succession of a corpora- tion sole does not extend to personal property, but is confined to real estate. 479. Aggregate Corporations. This is the kind of corporation described in the definition, section 475, and what may be said here- after about corporations in general will apply more particularly to this class. Such a corporation is composed of more than one person it is an association of individuals. 480. Public or Mun...icipal Corporations. This is a class of cor- porations created by the government for political purposes. It includes cities, towns, villages, park and drainage districts. They are given by law the power to regulate certain local matters, and in pursuance of this power to pass certain ordinances, which must not conflict with the statutes. Such corporations issue no stock. 481. Quasi Corporations. These corporations do not have all the functions or powers of the ordinary corporation. They may have the right to sue and\>e sued, and to hold property for certain purposes.
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