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This entry was published on 2014-09-22
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SECTION 5
Application
Transportation Corporations (TCP) CHAPTER 63, ARTICLE 1
§ 5. Application. A corporation heretofore or hereafter incorporated
under a general law for a purpose or purposes for which a corporation
may be formed under this chapter shall in respect to such purpose or
purposes have all the powers and privileges conferred, and be subject to
all the duties, liabilities and limitations imposed, on a corporation
organized for such purpose or purposes under this chapter. Any
corporation heretofore incorporated under a general law for any one or
more of the purposes specified in this chapter, may exercise the powers
now possessed by it to carry on any business in which it now may
lawfully engage. A corporation heretofore incorporated under or by
special law for such purpose or purposes shall in respect to such
purpose or purposes have all the powers and privileges conferred, and be
subject to the duties, liabilities and limitations imposed by this
chapter, in so far as such duties, liabilities and limitations are not
inconsistent with such special law.