A de facto corporation is one in the exercise and use of a corporate franchise under color of legal organization in pursuance of some charter or some general law. Such a corporation is not a legal corporation, and in a direct proceeding by the government they may be ousted, but the right of existence of such a corporation can not be attached collaterally.9

8 Wood on Modem Business Corporations pp. 82-83.

9 Central Agricultural, etc., Assn. vs. Alabama Gold L. Ins., Co., 70 Ala., 120.