Corporations may be formed under general laws, but shall not be
created by special Act, except for municipal purposes and except in
cases where no general laws exist, providing for the creation of
corporations of the same general character, as the corporation proposed
to be created; and any act of incorporation passed in violation of this
section shall be void. All charters granted, or adopted in pursuance of
this section, and all charters heretofore granted and created, subject
to repeal or modification, may be altered, from time to time, or be
repealed; Provided, nothing herein contained shall be construed to
extend to Banks, or the incorporation thereof. The General Assembly
shall not alter or amend the Charter, of any Corporation existing at
the time of the adoption of this Article, or pass any other general or
special law for the benefit of such Corporation, except upon the
condition that such Corporation shall surrender all claim to exemption
from taxation or from the repeal or modification of its Charter, and
that such Corporation shall thereafter hold its Charter subject to the
provisions of this Constitution; and any Corporation chartered by this
State which shall accept, use, enjoy, or in any wise avail itself of
any rights, privileges or advantages that may hereafter be granted or
conferred by any general or special Act, shall be conclusively presumed
to have thereby surrendered any exemption from taxation to which it may
be entitled under its Charter, and shall be thereafter subject to
taxation as if no such exemption has been granted by its Charter.
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