1906-1908 Ind. Op. Att'y Gen. p. 150a

CORPORATIONS-CHARGES ON CAPITALIZATION, ETC., OF CERTAIN CLASSES OF CORPORATIONS. April 5, 1907. Honorable Fred A. Sims, Secretary of State, Indianapolis, Indi- ana: Dear Sir-You have submitted to me the question whether the act of 1907, found on page 324 of the session laws (Senate Bill 253), is of general application, or is elective with corporations desiring to avail themselves of its provision. This act relates to the change in the capitalization, term of existence and objects of certain classes of corporations. Section 1 states that corporations "may" reduce or "may" increase their capital stock; "may" define, shorten or extend the period of its corporate existence; or "may" define the objects. Section 2 reads: "Any corporation desiring to take advantage of any of the provisions of this act shall, in its resolutions so to be filed declare that it accepts all of the terms of this statute, and that its action in changing its capital stock or in de- fining or changing the period or duration of its corporate existence, or in defining, limiting or enlarging its corpor- ate objects, is taken in pursuance of this act." It is evident, from the foregoing, that the legislature did not intend to repeal statutes existing when the above law was enacted, and relating to the same subjects covered by it. The legislature has not said that the changes shall be made in the manner pro- vided in the act of 1907 "and not otherwise"; nor has it indi- cated, expressly or impliedly, that prior laws are repealed. Re- peals by implication are not favored, and I am therefore of the opinion that the law of 1907 is elective with corporations and not compulsory upon them, but they may, at their option, act under prior statutes as if the act of 1907 had not been enacted. SCHOOL BOARD-" CADET SYSTEM" FOR TEACHERS. April 5, 1907. Honorable Fassett A. Cotton, Superintendent of Public Instruc- tion, Indianapolis, Indiana: Dear Sir-You have referred to me two questions presented to you by the school board of Evansville, Indiana. These are as follows: