[shempy]

States Enemy? Sounds more like you are a good friend of the state. You seem to advocate bringing a larger chunk of private production under state controls and restrictions. I don't think the state would put you in the enemy category.

[StatesEnemy]

You seem to advocate bringing a larger chunk of private production under state controls and restrictions

Not at all.

I'm just not for allowing international corporatists to bleed this country dry.

[hedgetrimmer]

Who charters a corporation? Doesn't the government grant charters? Aren't the citizens the sovereign entity in the United States government? So who has the ability to control the corporation should they choose to exercise it? Couldn't the agency, the sovereign citizens, that charters the corporation just as easily revoke it?

... The citizens of every state, acting through their attorney general, have, and have always had, the legal authority to go to court to revoke the charters of corporations that violate the law.
--Robert Benson, Professor of Law Loyola Law School, Los Angeles

Corporations have no inherent rights in the Constitution.

They exist because they are granted a charter by citizens through an agency of the citizens, the state or federal government.

Corporate charters can be revoked because of law-breaking, or monopolization of a market (anti-trust).

The following list is some of the limitations placed on corporations in the past by various states.

Limited Duration: Charters were granted only for a period of 10, 20 or 30 years after which the corporation had to be liquidated with the proceeds distributed among the shareholders.

Limited Land Holdings: Many states imposed limitations on the amount of land a corporation could own. Most often the amount of land was limited to that required for the factory or mill site.

Limited Capital Holdings: Once again many states limited the amount of money or financial assets a corporation could own. Some state banned corporations from owning other corporations or stock in them. Once a corporation exceeded the limit, it had to be either dissolved or split.

Specific Purpose Charters: This was perhaps the most common of all restrictions in the early years of this country. Corporations were chartered only for a specific purpose such as the building of a canal or road.Once the stated purpose was completed the corporation was dissolved. Now charters were issued that enabled a corporation to engage in any type of businesses.

No Limitations on Liability: Directors, managers and shareholders were held to be fully liable for any debts or damages. In some cases the lender or injured party was entitled to double or triple the damages. Other states imposed extremely high interest rates until the debt was fully paid.

Restrictive Shareholder Rights: The internal governance of corporations was much more restrictive than today. Shareholders had more rights. In case of mergers some states required a unanimous vote of shareholders.

Restrictions on Pricing: Some states maintained the right to set prices on corporate products. Wisconsin for one gave the state legislature the power to set prices on products after reviewing the corporations expenses.

Revocable Charters: States maintained the right to revoke or change a charter at the will of the it's legislature. Almost all of the states adopted this clause after 1820.