Re:Twitter Steps Down From the Free Speech Party
by bmm6o on Friday June 13, 2014 @05:04PM
(#7890832)
I don't question that the state can revoke a charter, I meant if it had done so as a result of a perceived threat (rather than as a result of criminal behavior). I'm aware that since the state also defines criminal behavior the line can be blurry, but I think we can agree that the North River Sugar Refining Company did not pose an existential threat to the state of New York.
Yes, corporate charters have been revoked for failure to comply with legal requirements. AFAIK, the most recent period of time during which this (sometimes referred to as the "corporate death sentence") was an actively-pursued remedy for violations of the law in the US (though it is one on the books still in, I believe, all states) is the late 19th and early 20th century [1].
[1] Some New York cases discussed starting on p. 250 (of the source document, not the PDF) under "Revocations Based on Misuse of the Corporate Charter for Violations of State Law": http://digitalcommons.pace.edu/cgi/viewcontent.cgi?article=1...