Quote:
Originally Posted by merrylander
Interestingly enough John, there is a corporate "death penalty" under the laws of Delaware (where so many corporations are incorporated) a corporation may be established forever or for a set period, i.e.,a "death penalty". Since under our federal laws one cannot set a time limit for a person (they call that murder) I should think that would indicate that corporations are not persons.  |
I don't know whether it was only in the Articles of Confederation or it was under (not "in") the Constitution at one time but I believe
all corporations were limited in their life span for a set period of time (I think 40 years). At the end of the specified time the corporate charter expired an had to be renewed.
Not a bad idea, IMO. I'd like to see something like that on the books now. In addition, I'd like to see a law under which a corporation's charter could be revoked for gross misconduct or criminality.
John
07-03-2012, 01:34 PM
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