corporate purpose

corporate purpose
In reference to municipal corporations, and especially to their powers of taxation, a "corporate purpose" is one which shall promote the general prosperity and the welfare of the municipality; or a purpose necessary or proper to carry into effect the object of the creation of the corporate body or one which is germane to the general scope of the objects for which the corporation was created or has a legitimate connection with those objects and a manifest relation thereto. State statutes commonly require that the articles of incorporation of business corporations state the purpose of the corporation

Black's law dictionary. . 1990.

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  • corporate purpose — In reference to municipal corporations, and especially to their powers of taxation, a corporate purpose is one which shall promote the general prosperity and the welfare of the municipality; or a purpose necessary or proper to carry into effect… …   Black's law dictionary

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