General incorporation law
- General incorporation law
A general incorporation law allows corporations to be formed without a charter from the legislature. It also refers to a law enabling a certain type of corporation, such as a railroad, to exercise eminent domain and other special rights without a charter from the legislature.
United States
In 1795, North Carolina was the first state to pass such a law. Massachusetts came next in 1799, with New York in 1811 and Connecticut in 1837.
Railroads
*Ohio: May 1, 1852
*New Jersey: April 2, 1873 (breaking the Camden and Amboy Rail Road's monopoly and allowing for the National Railway project)
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