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‘266
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OFFICE OF THE ATTORNEY GENERAL OF TEXAS
AUSTIN
tt stay be no11 to ob6~rve tfaat tho t*ti *per-
petual auucaor~on’io not $*niTrall~
sonstrusb to
lqplp corgcrate immortaUty, but ro,#or a eoa0lnufty
0P Witt6tic0, lrres~at1*8 of %&et or Ire ooapca*rvO
nwberzr , lilaited in, Uure0lea t5 thr period etetwl
In it8 cbartar or thr cot l uthorlxlng the &mmtirig
theroot. . .
*. . ,
R . ‘i&e1iFe of the oorpcmsbion18 now ~:*.a-
em&f;reU by ifb. ebartor or by th8 @?mri'd kvir
on the rubjeot. wm,ze ~1clhrcoramud by spaef,al
aat is allurt OR t40 ~ubstLon,or tam articlesb?
inaorp,oratfcc fix a pariod greeterOfzn t!i6t allowed,
then the antter 20 ae$sraUt~ bf nforsaue to S4e
ganeradlew on tha eubjrat,ra4 t&en tbla 18 doab It
18 t&6 gararral lew ~p6ror4~r 4t the tlms t44 45haner
k
was granted that e;overne. Tha llre or B tt~rp~ra-
tiorr a0413 i-.0t a4p4fia the lir0 at it*
fn sny w4y OR
lnaorporetors, but the duration of it8 lxl*t*noo taut
be fixed In aoiob uay. ~tem*l life is not an
attribute or oorpor4to 4xi(lt*n4e. Tk4 expres8ion
'perpstual eu4oe48lon~ lmpli48 nothing mere than *
oontlnuanos of auvoez+rion during the exlatoaoe of
t-ho oorpvratlon. In the 4khm44 of ovm orpr408
lta tutoth4 , oorporationwill oontinue until 4iUmr
its ohartorexpiresor ita 81884lution $8 daaromi
by the oourtoia a properprooowUn&. The iaat that
a aborter provide8 for parpetual ouooor8io~ doer
not imgly a &nnt of parpeDua1 *ri*tmioo. All doubt8
in oorpento ohartara ar8 ro*oltad ag8lort - in-
to&Ion to grant perpstual exlotonor. 8uah a pro-
rirlon 18 intendul a~rely to &a a aorporat&on
ooatlnuous auoaessioa 80 long a8 it osntbu4* in
4xi8t0504, and not to 64rin4 it8 duration. . .*
fn tiov or ttm feregebg aUtboritl88 and tha l8ovo &tatod
raot8, f@u are ~mspootfUly’adrl8ul
that 16 10 the *pinleaof
tiiie~Dqmrtmmt that the chartor ai the Galv48bon CSty Oompany
bar not ,ixpircrd by virtue of’ htldla 1320, V~non’a haotatmd
Civil statutsr. It ie our further opinion that the oorpos*tion
wPl1 continua to erlat until it* di88olutloa 98 doored by the
ooort8 in a proper prooosding, Dy~8urawdor of it8 oh8rtier. or
by di8eolutiea by say mothed pmria4a by law.
Tru8ttng;~tihattha roryloily fully anaw4ra $our inquiry,
w4 lr 4
Tows very trgly
AP -$Jl
JUL 9; 941
kTTs;rnW G3rmus.l 0) TEXAS
.k ti *U&h
FIRST ASSiC.AFT
ATTO~~jxy c;E~~JJJ&~L bl411 ‘%jllliamo
dka*latant
Ati18