Sec. 20.
Every act of incorporation passed since the twentieth day of April, in the year 1839, or which shall be hereafter passed, shall at any time be subject to amendment, alteration or repeal, at the pleasure of the legislature: Provided, That no act of incorporation shall be repealed, unless for some violation of its charter or other default, when such charter shall contain an express provision limiting the duration of the same.
History: R.S. 1846, Ch. 55 ;-- CL 1857, 2162 ;-- CL 1871, 3447 ;-- How. 4879 ;-- CL 1897, 8546 ;-- CL 1915, 11337 ;-- CL 1929, 10162 ;-- CL 1948, 450.520
Former Law: For law prior to 1846, see Section 11 of Act 115 of 1839.
Last modified: October 10, 2016