Ms. Const. art. 7, § 196
MS Const., Article 7, Section 196
Repealed. NOTE: Former Section 196 provided that no transportation corporation could issue stocks or bonds except for money or labor done or agreed to be done or money or property actually received and the section declared fictitious increases of stock or indebtedness void. The repeal of Section 196 was proposed by Laws 1987, ch. 689, Senate Concurrent Resolution 548, and upon ratification by the electorate on November 3, 1987, was deleted by proclamation of the Secretary of State on December 4, 1987.