Power v. Calvert Mortgage Co.

Citations

• 112 Miss. 319
• 73 So. 51

Syllabus

<p>1. CORPORATIONS. Foreign corporations. Filing Charter. Statute. Now doing business xoithin the state.- Construction. Retroactive effect.</p> <p>The amendatory Act of 1916, chapter 92, does not apply to corporations which had 'already complied with the law and were thereby lawfully doing business in this state. The act does not by its t express terms require a refiling of any charter and the^words “now or hereafter doing business in this state,” should be interpreted to embrace foreign corporations in fact doing business in this state without. having filed their charters, and paid the fees required by section 935 of the Code, and also corporations which should thereafter apply for admission into the state.</p> <p>2. Same.</p> <p>The passage of chapter 92, Laws 1916, repealed section 935 of the Code and any demand thereafter made by the secretary of state is necessarily based upon the new act.</p> <p>3. Same.</p> <p>To hold that this.section requires corporations which had already complied with the law to refile their charters, would give to the act a retroactive effect and impose an additional burden upon those corporations doing business in this state by invitation and license of this state.</p> <p>4. Same.</p> <p>A statute should not receive such construction as to make it impair existing rights, create new obligations, impose new duties in respect of past transactions, unless such plainly appear to be the intention of the legislature. In the absence of such plain expression of design, it should be construed as prospective only, although its words are broad enough in their liberal extent to comprehend existing cases.</p>