OTHER CORPORATIONS Special Types of Corporations.—In addition to the statutes governing ordinary business corporations, there are in most States separate enactments relating to stock corporations engaged in special kinds of business, such as banking and public service. Banks may be organized under either Federal or State laws, which in general do not differ greatly from those relating to the organiza tion of ordinary business corporations except with respect to a few matters such as that of stockholder's liability. The activities of banking corporations are, however, subject to a much greater degree of supervision by the State than is the case with respect to ordinary business corporations.
So, too, in the case of public service corporations, the differ ences between the laws relating to them and those relating to corporations engaged in ordinary business are less with respect to the manner of organization of such corporations than with respect to the amount of regulation to which they are subjected. The regulation of such enterprises is a very important part of the busi ness law of to-day, but since such regulation depends rather upon the nature of the business than on its incorporation, it is not dealt with here.
In addition to these various classes of stock corporations, the laws of the States also provide for the organization of various non stock corporations, including organizations engaged in business on the mutual or co-operative basis, and non-business corporations, such as charitable, educational, religious, social and fraternal bodies.