extension of charter

extension of charter
A prolongation of the existence of a corporation by statute or pursuant to statute. 18 Am J2d Corp § 69. While the term "extension" has frequently been used synonymously with "renewal", it has been held that to "extend" a charter is to give one which now exists greater or longer time to operate in than that to which it was originally limited, while "renewal" of a charter is to give a new existence to one which has been forfeited, or which has lost its vitality by lapse of time. Moers v Reading, 21 Pa 188.

Ballentine's law dictionary. . 1998.

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