Corporations shall be formed under general laws only

Corporations shall be formed under general laws only. The legislature shall have power to alter, amend or repeal any charter of incorporation now existing, and revo​cable, and any that may hereafter be created, whenever in its opinion it may be for the public interest to do so; provided, however, that no injustice shall be done to the stockholders. No charter for any private corporation for pecuniary gain shall be granted for a longer period than ninety-nine years. In assessing for taxation the property and franchises of corporations, having charters for a longer period than ninety-nine years, the increased value of such property and franchises arising from such longer duration of their charters shall be considered and assessed; but any such corporation shall have the right to surrender the excess over ninety-nine years of its charter.