56 Cal. 345 | Cal. | 1880
This is a proceeding on the part of the State, in the nature of a quo warranto, to inquire into the legality of the existence of the defendant, La Socióté Francaise d’Epargnes et de Prévoyance Mutuelle, as a corporation, and of the legality of the exercise of the powers of directors of it by the other defendants. The complaint was demurred to, and the demurrer sustained by the Court below. The plaintiff declined to amend, and the complaint was dismissed. From that judgment this appeal is taken. The original corporators of the corporation defendant filed a certificate of incorporation on the 1st day of February, 1860, in which they omitted to state the amount of the company’s capital stock, or the number of shares of which it would consist. The object for which the corporation was formed was, “ to receive ” from its members “ deposits of money, to preserve the same from loss, and to find secure and profitable investment therefor.” The only law in force at that time which provided for the formation of corporations for trad
“All associations or companies heretofore organized, and acting in the form and manner of corporations, and that have filed certificates for the purpose of being incorporated, but whose certificates are in some manner defective, or have been improperly acknowledged, or have been acknowledged before a person not authorized by law to take such acknowledgments, are hereby declared to be, and to have been, corporations from the date of the filing of such certificates, in the same manner, and to the same effect and intent, as if such certificates were without fault, and properly acknowledged before the proper officer; and all such certificates are hereby validated and declared to be legal, and shall have the same force and effect as if such certificates were free from all fault or defect, and were properly acknowledged before an officer having authority to take such acknowledgments.”
It is not denied that this association or company had been organized, and acting in the form and manner of a corporation, and had filed a certificate for the purpose of being incorporated. And that seems to bring it within the purview of the act. Heading these several acts together, there is little or no room left for doubt as to the validity of the incorporation and acts of the corporation defendant, and its trustees, from and after the passage of the Act of 1870.
There is seldom any question raised as to the prospective operation of a curative statute. It was just as competent for the Legislature to confer additional powers, privileges, and im
We have endeavored to show that this corporation did have a legal existence prior to the enactment of that Code, and if it did have, the question now is, not whether it transcended some of its powers before that time, but whether, at the time of the commencement of this action, it was transcending any of its powers. It is not alleged that it was, and if it was not, the Court cannot grant the relief prayed in the complaint. And it is only upon the hypothesis that this corporation had no legal existence prior to the time when it elected to come in under the Code, that the appellant claims to be entitled to any relief. Having determined that it had a legal existence prior to that time, it necessarily follows that it had a right to come in under the Civil Code, and have a capital stock, and stockholders; and having elected so to do, its right to exercise such corporate powers as it is alleged to be exercising is not without, but with, authority of law; and the demurrer to the complaint was properly sustained.
Judgment affirmed.
Boss, J„ Myrick, J., Morrison, C. J., Thornton, J., and McICinstry, J., concurred.