Albuquerque daily citizen. [volume] (Albuquerque, N.M.) 1895-1903, 1899-03-31
NEW CORPORATION LAW.
Passed by the Ree,n, Legislature, NJ d.
lying Existing Statues.

Council bill No 81. IN act TO amend
sections al aud il5 OK the complied
laws Vi 1891, aud ~ Olh.fwi-e modify the
existing statutes In reference 10 corpora.
tions,' which was passed by tue recent
Legislature and received the governors
signature, is a. follows:
Section That all corporations or
ganiZ u under the laws Of this territory
Of under the laws Ui any foreign state.
territory, or country, shall, before doing
business Il this territory, lie In the Office
OF the tecretaTy Of the territory Uf New
Mexico h certificate OF incorporation In
writing, according 10 Law Ia such case
provided; and Tor the ding VI such Ger.
tiicate of in sOlpJTatiOn the secretary
snail collect at iue time VI such niiug
the following fees:
(a) For Interpretations organized Tor
the construction ami operation OF rail-
TOads. under the railroad Incorporation
act, q basal lee Of 500. with 81 Tor each
aud every mile OF railroad 10 be cOu.
stTncted Or operated in this territory,
(O) For corporations organized FOR
mining, milling or smelling purposes,
twenty. five dollars where the capital
stock Is 100000 or less, and tiye dollars
additional Tor every $4,000 or frac-
tiOnal part thereof OF capital stock la ex
cess of said 100000.
90 For cOTpOfatiOn1 organized for The
caltiyatiOn Of sugar heets and the manu-
tacture and sale OF beet sugar; for cofpO.
ratiOns organized for the construction VI
iTrigating bitches aud dams, or fUr the
colonization ana improvement OF In d.
In this territory, 6ttsen dtll irs where the
capital STOCK Is 10000 OT less, and one
dollar additional for every $4,000 OF
fractional part thereof OF capitaliZ alton
In excess OF said $4,000.
90 For building aud loan associa-
tions. twenty dive dollars where the capi
tai stock * $4,000 or lses, aud one dol.
laf additional for every SIC. goo or ffac
tional part thereof of capitalization IN
excess OF said $4,000.
(p) For all corporations organized for
colleges. Summaries or other educational
institutions; for churehes. libraries or
other benevolent, charitable, religious or
scientific purposes, the sun OF one dollar.
~ Fol- oil corporations organize for
manufacturing or other industrial pur
poses not specifically mentioned in the
preceding portion OF this section. ten
dollars where capital stock Is $4,000 or
less. and two dollars additional for every
$1,000 or fractional part thereof Of cap
itelizstiOn In excess Of said $4,000.
(g) For the increase or decrease OF
capital stock in corporations mentioned
Ia sub'sections (s), o. (ol (d) and 60 OF
this section, twenty live cents for every
81 200 or fractional part thereof of such
tnnraaaa Ar AaaVauua and Tar m n,u.pt
msnt 20 the articles OF incorporation
other than an increase or decrease OF
capital stock or any other amendment 10
the articles OF incorporation Or incorpor.
atoms mentioned In subsection (e) OF
this section. n ollar.
SeC - hat 10 snail Oe % misdemeanOr
tor any probate clerk e. Hle In his Office
my incorporation papers or copies there
Of that DO not contain the cert fcste OF
record OF the secretary 1T tbs ter tory OF
New Mexico.
Bee 3-That each and every corpora
lon dong business In the territory shall,
N or betora the first day of July OF each
year, file with the secretary OF the terri
Tory its annual balance sheet for the pre-
teding year. or su3h part thereof ~ The
corporation shatl have bsen In existence,
showing its gross assets. gross liabilities,
gross Income, gross esppnses aud divi
bends, said bAltnce shee, 10 b. signed
10y its president and secretary aud
sworn to by them before an officer
competent 10 take acknowledgements
OF deeds; and each such corporation
shall. ut the time said annual balance
lheet il died, pay to the secretary OF tho
territory "A les Of one dollar Tor ding
and for registering anne in a register
book which the secretary Of the territory
shall Keep for this purpose. Failure on
the part OF any corporation 10 comply
with the requirements OF this section for
three successive years, shall act as "a
forfeiture of It's charter, and the secre.
taTy shall, after due notice TO the cor.
pOrstiOn. enter such forfeiture in the
record book OF annual balance sheets.
Sec. THAT it shall boa ths duty OF the
secretary to furnish n certified copy OF
the balance sheet OF any corporation on
lie In htg office, to any person applying
therefor, upon payment 10 the secretary
Of the fees authorized by law.
Sec. 5-That the fees 10 be collected by
the secretary of New Mexico. as provided
Ia sections /, 3 and I Of this act, shall be
applied ~ follows: One dollar OF each
Zee collected in accordance With the re-
qnirements Of sections 3 sn1 4 and sub
divisions le) and (g) Of section | Of this
act, and So OF each fee collected In &C
c'rdance with the requirements Of sub
divisions (al. (b), (c), (d) and u Of section
| OF this act shall 20 TO the secretary Of
the territory; the remainder shall be paid
over 10 the treasurer Of the territory
quarterly, beginning April 1. 1899.
See. 6-That all laws or parts of laws
In conflict with the letter or spirit OF
this law ara hereby repealed.
Soc. THAT this law shall take eilec'
i%mmodiatelJ upon its passage.