ART. III] LEGISLATIVE DEPARTMENT. 137

be to prepare drafts of general Laws, providing for the creation
of corporations, in such cases as may be proper, and for all
other cases, where a general Law can be made; and for revis-
ing and amending, so far as may be necessary or expedient,
the General Laws which may be in existence on the first day
of June, eighteen hundred and sixty-seven, providing for the
creation of corporations, and for other purposes; and such
drafts of Laws shall by said commissioners, be submitted to
the General Assembly, at its first meeting, for its action
thereon; and each of said commissioners shall receive a com-
pensation of five hundred dollars for his services, as such com-
missioner.

All Charters granted or adopted in pursuance of this section,
and all Charters heretofore granted and created, subject to
repeal or modification, may be altered, from time to time, or
be repealed; provided, nothing herein contained shall be con-
strued to extend to Banks, or the incorporation thereof.

[Sec. 48. Corporations may be formed under general laws,
but shall not be created by special act, except for municipal
purposes and except in cases where no general Laws exist, pro-
viding for the creation of corporations of the same general
character as the corporation proposed to be created, and any
act of incorporation passed in violation of this section shall
be void; all charters granted or adopted in pursuance of this
section, and all charters heretofore granted and created subject
to repeal or modification, may be altered from time to time, or
be repealed; provided, nothing herein contained shall be con-
strued to extend to banks or the incorporation thereof; the
General Assembly shall not alter or amend the charter of any
corporation existing at the time of the adoption of this Article,
or pass any other general or special Law for the benefit of
such corporation except upon the condition that such corpora-
tion shall surrender all claim to exemption from taxation or
from the repeal or modification of its charter, and that such
corporation shall thereafter hold its charter subject to the pro-
visions of this Constitution; and any corporation chartered by
this State which shall accept, use, enjoy or in anywise avail
itself of any rights, privileges, or advantages that may hereafter
be granted or conferred by any general or special Act, shall be
conclusively presumed to have thereby surrendered any exemp-
tion from taxation to which it may be entitled under its char-
ter, and shall be thereafter subject to taxation as if no such
exemption has been granted by its charter.]*

*As amended by Chapter 195, Acts of 1890, ratified by the people November 3, 1891