Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1882-01-02
Returns OF Corporations.


Clerks or treasurers of corporations,
within seven days after the hrst day OF
December annually. are to make return to
the Secretary Of State Of the names Of all the
stockholders. their residence, the amount of
stock owned by each and the whole amount
of stock paid in. A deposit of the return
required in the two preceding sections in
post office, postage paid, properly directed.
is to be a compliance. For the neglect or
refusal of its officer TO make such return. the
corporation forfeits five hundred dollars, to
be recovered in an action of debt, one. half to
the use of the prosecutor and the other to the
State. Whenever any corporation or its
officers shall neglect TO make to the Secretary
of State any return required by law, the
Secretary Of State shall forthwith notify the
Attorney General thereof. and the Attorney
General shall thereupon proceed at once, by
an action OF debt in the name Of the State, to
enforce and recover for the State the penalties
provided by law. II, at any time within
thirty days from the commencement OF the
action under section one Of this act such
corporation shall make TO the Secretary Vt
State the returns required by law, the
secretary of State shall forthwith notify the
Attorney General, and he shall discontinue
such suit upon the payment to him of the
costs already accrued
The following communication from the
Attorney General which has been received ut
fba Cor nf fufu "a; ,s 80 ;nta
corporations, and we give it place in our
columns.
STATE OF MAINE,
ArroRSEY Generals OrrIcE,
PORTLAND. December 10, 81.
Hon. JosEPH o. SMITH. Secretary Of State,
Augusta, Me-;
Dear Sir: ! am in receipt of the commun-
cations addressed to your Office and referred
to me. relating to the annual returns Of cor
porations. Though not required by law,
understand you caused notices to be forward
ed to all corporations existing under the laws
Of the State, of the requirements of the statute,
and, that there may be no Misrepresentation in
the public mind as to the course that will be
pursued by this Office, ] can state that suits
will no. be commenced against corporations
holding taxable property, and exercising their
franchises within the State, until there has
been ample and sufficient opportunity afford.
ed such corporations 10 make the returns 10
your office, required. The statute of 1881
makes it the duty Of the Attorney General.
after having received official notice from your
Office, to commence suits against the corpor-
ations failing to make the required returns.
to recover for the STATE the penalty provided
A subsequent section Of the same statute an-
thori2es a remission Of the penalty on behalf
Of the State, II the proper returns are made
| within thirty days from the commencement
Of suit, and costs attending the same paid,
manifestly showing that it was not the pur-
pose of the State to impose upon the corpor-
ations existing under her laws, any oppres-
sive or arbitrary burdens, but simply COM
pliance with statute that has existed for
years.
No officer Of the State having heretofore
| been charged with the execution of the law,
the clerks and treasurers Of very many of the
corporations chartered by the Legislature,
have not had their attention called directly to
| the provisions Of the statute, and presume
there s no willful intention to evade the law.
| | have instituted proceedings in some instan-
ces against corporations organized under the
general statutes, to compel a compliance
with the law; but with more especial refer
ence to those organized principally by per.
sons from beyond the Jurisdiction, coming
here temporarily and availing themselves of
our laws, and establishing no legal clerks
Office or general agency within the State, and
having no taxable property or place Of BUSH
ness therein. In such cases, a strict compli-
ance with the statute, will be required, not
only in the forms of Organization, but in all
subsequent proceedings and duties.
think it will be we'll In cases where cor
porations have ceased TO exercise their fran
chises. to have the returns disclose that fact in
order that the officers Of the State may act
understandingly in the premises.
Charged as am by q recent and positive
enactment Of the Legislative department Of
1.-THE State to execute this Law, shall feel it
my imperative duty to require reasonable
compliance with its provisions.
Very respectfully,
HEsRY B. CLEAvEs.