The Austin weekly statesman. (Austin, Tex.) 1883-1898, 1897-07-22
CHARTERS AND THEIR FEES.
The Secretary of State Issues some
Interesting Data Thereon.

The Twenty-ffth legislature having
amended the laws relating to corpora
tons. the secretary of state has pre-
pared the following circular letters of
information, one relating to domestic and
the other to foreign corporations, which
will be of interest to the legal profession
and others interested i'll corporation laws:
For the information of those desiring
to become better acquainted with the
laws of this state concerning the organi-
cation of private corporations and OBJ
tanning charters for same, the following
statement is respectfully submitted:
There are fifty-fve different purposes
for which private corporations may be
legally formed, exclusive of railroad cor
pOrat tons. to which this circular is not
intended to apply. These purposes are
contained in tifty-fve subdivisions, form
ing chapter 100, General Laws, regular
session of 1897. In preparing the arti-
poses intended should be set forth in the
exact language of the statute or as near
ly so as possible.
The articles should set forth the re-
quirements of article CAB of the Revised
Statutes of 1895, viz:
First-The name of the corporation.
Second-'The purpose or purposes for
which it is formed.
Third-The place or places where its
business is to be transacted.
Fourth-The term for which it is to
exist, not to exceed fifty years.
Fifth-The number of it's directors or
trustees, and the names and residences
of those who are appointccs for the first
year.
SiXth-The amount of its capital stock,
If any, and the number of shares into
which it is divided. If no capital stock
is authorized the articles should con-
tain an estimate of the value of the
goods. chattels, lands, rights and credits
owned by the corporation, in accordance
with article ia.
All corporations having an authorized
capital stock must show either in the
body of the articles or by affidavits an
nexed thereto, that at least so per cent
of the authorized capital stock has been
subscribed and that at least 10 per cent
of such authorized capital stock has been
actually paid in.
The charter must be subscribed by
three or more persons, two of whom at
least must be citizens of this state, and
must be acknowledged by them before an
officer duly authorized to take acknowl-
edgments to deeds. Such articles must
be filed in the Office of secretary of state,
who retains the original and furnishes
the incorporators certified copy there
of.
Charter Fees and Franchise Tax-The
fees required for filing charters in the
Office of the secretary of state are as
follows: Quoting article 2439, r. S.
For each and every charter, amendment
or supplement thereto of private cor
porati0n created for the purpose of Oper-
ating or constructing n railroad, mag
netic telegraph line or street railway or
express company, authorized or required
by law to be recorded in said depart
ment fee of 500. TO be paid when said
charter is filed: provided. that if the au-
thorized capital stock of said corpora
ton shall exceed 100000 it shall be
required to pay an additional fee of $50
for each 100000 authorized capital
stock or fractional part thereof. after
the first; for each and every charter.
amendment or supplement thereto of a
private corporation intended for the sup
port of public worship, any benevolent,
charitable. educational, missionary, liter
AIRY or scientific undertaking. the mainte-
nance of a library. the promotion of
painting. music or other fine arts, the en-
enlargement of agriculture or horticul-
ture, the maintenance of public parks
and facilities for skating and other in
nocent sports. and the maintenance of a
public cemetery. fee of $40, to be paid
when the charter is filed: for each and
every charter. amendment or supplement
thereto of a private corporation created
for any other purpose, intended for
mutual profit or benefit, a fee of $50 shall