Albuquerque daily citizen. [volume] (Albuquerque, N.M.) 1895-1903, 1901-08-12
CORPORATIONS IN NEW MEXICO,
synopsis Of Laws Regarding Them
Passed In the Last eoisIature

fasseo IN the Last Legislature.
The following skeleton abstract Of
laws governing the formation OF cor.
porations in New Mexico has been
compiled by Secretary Reynolds and
careful compliance with these provis-
ions will obviate delays incident to re-
turning copies for correction:
/. Corporations may be formed for
benevolent, charitable, educational
and scientific purposes and for any
legitimate business enterprise.
Special provisions for railroads, ir.
rigation companies and building and
loan associations.
2. Any three On more persons who
desire to form a company for one or
more of the above purposes shall
make. sign. acknowledge before some
official competent to take the acknowl-
edgement of deeds. and file in the Of.
fee of the secretary of the territory
their articles in writing setting forth:
/. The full names of such persons.
2. The corporate name OF the com.
pany.
3. The objects for which the com
pany shall be formed.
4. The amount Of capital stock and
number Of shares into which divided.
;. The term of existence, not TO ex.
coed fifty years.
6. The number of directors and
their names who shall manage the
concerns of the company for the first
three months.
The board Of directors must consist
of at least three members who are
stockholders. a majority citizens of
the United States and %one-third res
idents of New Mexico.
Z. The name Of the city or iowa
and county where the principal place
OF business is h be located.
Whenever a majority of the stock IL
owned In anotfe" state or territory
the principal Office OF such company
may be located In such state or ter.
ritory and meetings OF stockholders
and directors may be held there, pro-
vided that such company shall file
with the secretary of New Mexico 4
certificate designating a principal
place OF business In this territory and
agent residing thereat, upon whom
process may be served, in the manney
as IL required by foreign corporations.
3. Date, signature and acknowl-
cdgement In manner as deeds are re-
CURED to he acknowledged.
8. A copy of such articles or certif.
Gates. certified by the secretary of the
territory shall lie filed I'm the office OF
the probate clerk in the county where
principal place Of business of the cor.
poration Is located and IL shall be n
misdemeaenor fer any probate clerk
to file or record in his office any cor.
~poration papers or copies thereof that
10 not contain the certificate OF record
by the secretary Of the territory.
4. II any corporation fail to or.
ganize and commence the transaction
OF business within two years from the
date of filing articles, It's corporate
powers shall cease.
FEES OF SECRETARY'S OFFICE.
Upon advice of the solicitor general
Il has been ruled that when a corpor.
alton proposes to engage in more
than one line o. business fees must
be collected for that particular object
which requires The largest payment.
All corporations organized under
the laws OF any ether territory, state
or country shall before doing business
in this territory file in the office OF
the secretary OF New Mexico articles
Of incorporation IN writing according
to law in such cases provided: and.
ut the time of such filing the secretary
shall collect the following fees:
l.. Railroads-Under the railway
Incorporation net, basal fee, 800, plus
81 per mile for each mile Of road to
be constructed or operated in this ter
ritory.
.. Mining. milling and smelling
companies-Capital. 800 900 or less.
For each additional 100000 or frac-
tional part thereof. S..
3. Companies for colonization and
improvement OF lands. irrigation com.
%panies, sugar bees and beet sugar
companies-Capital, $50, 900 or less,
sl5. For each additional $4,000 or
fractional part thereof. 81.
4. Building and loan associations
Capital $4,000 or less, s25. For each
additional $4,000 or fractional part
thereof. 81.
8. Manufacturing and other indus
trial purposes not specified above
Capital $4,000 or less, $40. For each
additional or fractional part thereof,
so.
G. Benevolent. charitable. educa.
tional and scientific purposes, 81.
I. Increase or decrease of capital
IT stock companies mentioned in |, .,
2, 4 and 3. % cents per $1,000.
Amendments Ia articles other than
increase or decrease of capital. $40.
Any amendment to articles of com.
panies mentioned In G. 81.
Certificates designating agent and
place of business In New Mexico, 81.
OF fees collected under 6 and 7
81 to secretary. or fees collected un.
der |, 2, 3, 4 and 8, 81 to secretary.
Remainder paid to treasurer Of terri.
tory quarterly,
Fo certified copies OF n docu.
ments on file the secretary shall col.
iect 81 plus 10 cents per folio of 100
words. J, w. RAYNOLDS,
Secretary OF New Mexico.