The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1899-01-22
HOUSE PREPARES
SUBSTITUTE BILL
FOR THE D0MeS iCATl0N or FOREIGa
CORPORATIONS.
Sub committee viii Recommend It to tie full
Committee To morrow Full Text
of the Bill.


Messrs. Ovcrman, Craig, Justice and
Allen to consider the bill ITO provide
a manner in which foreign corporations
may be made to become domestic" and
they are prepared to report to the Jul
dietary Committee, on Monday, the fol-
lowing substitute bill, which they recon-
mend to the committees Favorable con
sideration:
The General Assembly of North Car
DINA do enact:
Section /. That every telegraph, tele-
phone, express, Insurance., steamboat
and railroad company Incorporated, ere
ated and organized under and by virtue
of the laws of any State or Government
other than that of North Carolina, de-
string to own property or to carry on
business or to exercise any corporate
franchise whatsoever in this State, shall
become a domestic corporation of the
State of North Carolina by filing in the
office of the Secretary of State Il copy of
its charter duly authenticated in the
manner directed by law for the anthem
tication of statutes of the State or
country under the laws of which such
company or corporation is chartered
and organized, and copy of its by
laws duly authenticated by the oath of
its secretary. Such corporation shall
pay therefor to the Secretary Of State,
to be turned over by him into the State
Treasury. such fees as are or may be
REQUIRED by law.
Section ?. That if any such charter or
bylaws, or any part thereof, filed in
the office of the Secretary of State
shall be in contravention or violation of
the laws of this State. such charter or
bylaws, or such part thereof, as are in
conflict with the laws of this State, shall
be null and void in this State.
Section 3. That when any such cor
poration shall have complied with the
provisions of this act above set out, it
shall thereup0n Immediately become a
corporation of this State, and shall en-
joy the rights and privileges and be
subject to the liability of corporations
OF this State the same as if such corpo-
ration had been originally created by
the laws of this State. 1t may sue and
be sued in all courts of this State and
shall be subject to the jurisdiction, of
the courts of this State as fully as if
such corporation were originally created
under the laws of the State of North
Carolina.
Section A. That on and after the first
day of June, 1899, it shall be unlawful
for any such corporation TO do business
or to attempt to do business in this
State without having fully complied with
the requirements of this act.
Section ). Any such corporation violat-
ing any prov ision of this act shall for
felt to the State of North Carolina
penalty of two numbered dollars for each
and every day after the first day Of
June, 1899. on which such corporation
shall have continued 10 operate or do
business without having complied with
the requirements of this act. Such pen
atty shall be recoverable by the Treas
urer of the State for the benefit of the
State of North Carolina, and it shall
be his duty to sue for such forfeiture
in the Superior Court of Wake county
as the same @accrue.
Section 6. No telegraph. telephone, eX-
press, insurance, steamboat or railroad
company which is foreign corporation
of another State doing business in
North Carolina shall he allowed to sue
in the courts of North Carolina on o.
after Juue LIST. 1899, until such foreign
corporation has become a domestic cor
poration either by a special act of the
Legislature or under the provisions of
this act
Section Z. No such foreign corporation
mentioned in the preceding secti0u of
this act shall be Allowed to enter Tits
a contract in the State of North Caro-
Ina on or after the hrst day of iune,
1899, nor shall any snch contract here
tofore or hereafter made or attempted
to be made and entered into by such
corporation in the STATE of North Cara
lima be valid or enforceable by such cor
poration unless such corporation shall on
or before the first day of June 4on0, be-
come domestic corporation under and
by virtue of the laws Of North Caro-
lima.
Section 8. Any such corporation vio-
lating any of the provisions of this act
by doing any business in this State
without first becoming a domestic cor
poration in the manner prescribed by
law. shall forfeit a penalty of two hun
dred dollars in every county in Which
such business is done for each day such
business shall be done on and after the
first day of June 1899 The amount so
forfeited under the provisions of this
section shall be recovered by any citizen
of the county in which such business is
done who shall first sue for the same
in the county in which he resides and in
which such business is done. One half
of said forfeiture shall be paid for the
benefit of the party who shall recover
the same and one-half for the school
fund of the county in which the recov-
cry is had; Provided, however. the bust
ness contemplated in this section of this
act does not embrace such business as
Is strictly the business of Interstate
commerce.
Section .. That all laws and clauses OF
laws in conflict with the provisions OF
this act are hereby repealed.
Section 10. That this act shall be in
force from and after the first day of
June in the year Of our Lord one thou
sand eight hundred and ninety-nine.
MR.. WOODS GOES TO FLORIDA.
Mr. William Woods, of this city, left
yesterday for Jacksonville. Fla. to nc
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