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Had an absolute power to involve means of corporators for Settlements of its debts. Thanks to it in case of insolvency of corporation Judicial executors could collect means from its members proportionally them
To sharing in corporation (see: Handlin and Handlin, "Origins of American Business
Corporation ", pp. 111 - 118). In the United States up to 1930 year in
Case of insolvency of bank shareholders of national banks answered in
The size of a nominal price of shares belonging to them.] at least, in
New York in the beginning of a XIX-th century Legislative Assembly in decrees about
Here too the reliance affected that incorporation is inappropriate there, where
The competitiveness to associations as was considered that the right is possible
Limited liability offers to corporations unfair advantages. With
Time submission about defects of such form as the association, was
It is destroyed by introduction of companions with limited liability - that is
The participants of association who did not have authorities to act on behalf
Associations and responsible for debts only in volume of committed facilities. [Brodel
Traces history of the limited liability companies in Europe
Up to Florence of 1532. Femand Braudel, The Wheels of Commerce (New
York: Harper AND Row, 1982), pp. 438 - 439.]
Not claiming the special act, has arisen in connection with
Establishment of the companies intended for strictly certain kinds of business.
[Thus, the termination of import of textiles from England, owing to the imposed
Jefferson of embargo and fears of war for 1812, has induced the legislative
The meeting of New York in 1811 to pass the general law on incorporation of the textile
The companies. Later here other products have been added also. However New York not
Without the formal act; Massachusetts has passed the general law about
Incorporations of the water companies in 1798. Handlin and Handlin,
"Origins of American Business Corporation", p. 106.] Activity of the companies
Such, created by acts or on the basis of the general laws about
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