The Supreme Court recognized that the comity clause gave corporations a conditional right to do business in other states, but it also allowed states to regulate or even prohibit such business by explicit legislation.
An Alabama citizen refused to pay the bills of exchange of an out-of-state bank on the grounds that a foreign corporation had no legal right to make and enforce contracts in Alabama. The bank responded that a corporation, like a citizen, was guaranteed basic privileges and immunities in all the states, including the right to conduct business.
Writing for an 8-1 majority, Chief Justice Roger Brooke Taney
Commerce, regulation of
Privileges and immunities