Summary

Platt v. Wilmot — Opinion of the Court

It is not the case of a state legislature assuming to regulate foreign corporations, and no such attempt has been made. The substance of the legislation is that when suits are brought in the state of New York to enforce therein the liabilities of directors or stockholders, the statute of limitation enacted by the legislature of that state in regard to directors or stockholders of domestic corporations shall also apply to directors or stockholders of foreign corporations.
Source: Wikisource

Platt v. Wilmot — Opinion of the Court

Again, referring to the revised corporation act of New York of 1890, a moneyed corporation is therein stated to be one formed under or subject to the banking or the insurance law. If a foreign corporation have powers, or some of them, which are given a banking association under the law of New York, that foreign corporation is, under the circumstances of this case, a moneyed corporation or banking association within the meaning of the New York statute of limitations now under discussion.
Source: Wikisource

Get perspective with Kwize: daily news enlightened by great literature