Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1901-02-26
Special to the Register.

rms St3Te.
Special 10 the Register.
CHARLESTON, w. Va, Feb. 9s
Following is the full text of the act
passed by the Legislature. relating to
corporations. 1t completely reeasts the
Code in this respect, amending and ra-
~enacting over forty sections. The bin
follows:
An act to provide additional reyenua
Tor the State, by increasing the license
taxes on corporations and joint stock
companies; that is to say. BY amend
ing and ~re-enaeting section three OF
chapter iifty-two Of the Code, and sec
lions six, twelve. sixteen. eighteen
b~wenty-one, t%wenty-four. thirty-iye.
foTty-one, f~orty-six, forty-seyen. fifty.
hfty-one' ffty-two and hfty-three Of
the Code; and sections three. six ten
eleven, fifteen, twenty, twenty-one
twenty-five. ~twenty-three. thirty and
eighty of chapter fifty-four OF the Code
Il by adding a section to be Num-
Dered elghty-three to chapter nfty-four
OF the Code, concerning the incorpor-
alton and regulation of CORPORATIONS
n joint stock companies: and hy
amending and r%e-enacting sections
eighty-six, eighty-seven, eighty-eight
elghty-nine, ninety. ninety-one and
nlnety-two of chapter thirty-two of tho
Code. concerning license taxes of cor-
porations and joint stock companies.
and by amending and re-enaeting seq
ton nine of chapter sixty-six OF the
CODE, concerning the separate pronerty
rights, powers and privileges of mar
ried women; and by repeating section
four OF chapter fifty-two OF the Code
n sections forty-fiye. forty-eight and
sixty-two of chapter ffty-three OF the
Code, and by repeating section ave of
chapter hfty-four of the Code.
Be IL enacted by the Legislature OF
West Virginia:
that section three OF chapter fifty
W OF the Code be and the same IA
hereby amended and re-enacted. so az
to read as follows:
3. NO corporation shall be incorpor-
ated for the sole purpose OF purchas-
ing real estate in order to sell the
E&E ~ iA0hAt IN NHd1l IT. tAlHII IL
a 3 OF It's stockholders regularly
had, subscribe for or purchase the stock
n or other securities OF any Joint
stock company, or become surety or
g%uarantcr for the debt or default Of
such company.
That section four OF chapter fifty
three of the Code be amended and re-
enacted so as to read as follows.
A. to Certificates.
6. When a certificate Of incorpora-
ton has been or shall hereafter be is
sued for q Joint stock company under
a general law. such company must be
organized and begin IT'S proper ccr-
porate business within one year after
the date of such certificate: otherwise.
the certificate shall be Of no effect and
such corporation shall be ipso facto dis
solved. When a certificate Of incorpor-
alton is issued for a Joint stock com
pany under a general law. and the
i-ncorporators and other stockholders.
or a majority OF them. desire to aban-
o such certificate Of incorporation
and not TO organize such corporation.
such tncoTporators aud stockholders
may, by signing and acknowledging a
statement to such effect, and sending
the same, together with the certificate
OF incorporation to the Secretary OF
state. abandon such corporation. The
provisions Of section hfty-six. fifty
seven hfty-eight and ffty-nine Of
chapter hfty-three Of the Code shall
apply to the corporations named In
this section Sc far al they are aDpiic-
able. The Secretary Of State shall can
Z cal uyfnn gnFff n ~. fnv Of r~NrTrea4t2s
surrendered to him and file and pre-
serve them and the foregoing named
statements in his Office. and aptly note
in the indexes or corporations kept In
his office the fact Of the extinction or
dissolution Of such corporation.
That section twelve Of chapter fifty
three Of the Code DO and the same Is
hereby amended and ~re-enacted so as
to read as follows:
Change of Name.
~. II the stockholders Of a Joint
company desire 10 change the name
| thereof, they may DO so IL the same
manner that they may increase or re-
duce the number OF shares OF its capt.
tails stock as provided ia section twen-
ty-one OF chapter 1fty-four OF the
Code; and after doing so. such reso-
lotion changing such name. certified
under the common seal and signature
Of the president Of the corporation.
shall be delivered TO the Secretary os
State. who shah issue hts certificate,
under seal. r~eciting the resolution and
declaring that the corporation is to be
thereafter known by the new name so
adopted; and such certificate shall be
evidence OF the change OF name there
In specified. and the Secretary OF State
shall keep an index in hts Office. show-
Ing the new name and the change from
the old name showing the change to
the new name.
That section sixteen Of chapter fifty
three Of the Code be and the same Is
hereby amended and re-enacted 80 as
To read as follows.
16. The agreement Of incorporation
and the certificate OF Incorporation g.
sued by the Secretary OF State. or the
| stockholders in general meeting, BY a
resolution or bylaw, may provide for
or authorize the issuing Of preferred
stock on such terms and conditions.
and wfth aw wharf +Mn rS~n< - wnfa