The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1903-05-23
HARD RULES
LAID DOWN
Heavy Penalties Placed on
Foreign Corporations.
NEW BILL THAT PASSED
Measure is in Great Demand, and Those
Desiring to Enter this State Are
Calling for it Daily Drive Out
the Law VioIators.
NEW BILL THAT PASSED

One of the bills passed by the Legisla-
ture at It's recent session, which Is of
great public interest, and therefore in
| much demand among those interested IN
corporations Is that amending sections
1104 and ll05 of the Code prescribing
how foreign corporations may do busi-
ness In this State.
The bill, which will doubtless be widely
read is In full as follows:
1. Be 1t enacted by the General Assem-
bly, Of Virginia, That sections eleven
hundred and four and eleven hundred
and five be amended and re-enacted SO
as to read as follows:
Section 1l04. Every incorporated COM
pany doing business In this State shall
have an Office In tho State, at which all
claims against the company due resi-
dents of the State may be audited. set
tied and paid. Every such company In
corporated under the jurisdiction beyond
the limits of this State tand hereinafter
designated as a foreign corporation),
shall, before doing business In this State,
present to the state Corporation Commits
sion (a) written power Of attorney,
executed in duplicate, appointing some
person residing In this State Its agent.
upon whom all legal process against
the corporation may be served. and who
shall be authorized TO enter an appear
ance In its behalf; Co two duly anthem
poration; and (c) a certificate Of the
Auditor of Public Accounts. showing the
payment into the treasury Of the fee
required by law to be paid by such cor
poration, and shall obtain from said Cor
poration Commission license to trans
act business In the State. If 1t shall be
made to appear to the State Corporation
Commission that said corporation has
complied with the law relative to the
licensing of a foreign corporation. Of the
character of the applicant corporation
then said Corporation Commission shall
Issue to said corporation n license to
transact business in the State. Said
commission shall file and preserve in
their office one copy each of the power
of attorney, charter, certificate Of the
auditor and certificate Of the commits
sion granting the license, and forward
copies Of said documents to the Secre-
tary Of the Commonwealth, who shall
file and preserve the same in his Office.
FILL VACANCY.
Whenever by reason Of his removal
from the State or from any other cause
the powers of such resident agent shall
be terminated, then such foreign corpora
ton SHALL by like written power of at
torney, executed in duplicate, and filed
with the Corporation Commission. as
above provided, appoint another resident
agent, one copy Of such power of attor-
hey Sldll nc luNu picoCi NSu III VIC
office of the Corporation Commission,
and the other copy thereof transmitted
to the Secretary Of the Commonwealth,
to be filed in his Office If the charter
of any foreign corporation licensed to
transact business in this State is
amended, two duly authenticated copies
of such amendment shall be presented
to the Corporation Commission and filed
as copies of the original charter are re-
quired to be filed, and the fee required
by law on such amendment shall be
paid in the manner prescribed by law.
Any foreign corporation which has here
tofore paid the fee required by law to
entitle 1t to transact business In this
state, and has otherwise complied With
the law heretofore existing, relative
thereto, shall not, on application for
license to transact business In this State,
be required to pay such fee again. nor TO
file copy Of the charter with the Sec
rotary Of tho Commonwealth. II copy
thereof Is already on file In his office.
Such corporation shall pay the clerical
fees for license and for filing such papers
as prescribed by law.
HEAVY PENALTIES.
Section ll05. II any foreign corpora
ton shall transact business In this State
without first obtaining the license pro-
vided for In the preceding section. It
shall be fined not less than ten dollars
lor more t!ltH ono tHolStld uOHdiS,
such fine to be imposed by the State
Corporation Commission, whose duty It
shall be to see that the provisions of the
preceding section are complied with.
Every transaction had In the State by
such a corporation without a license
shall be deemed a separate offense. The
officers. agents and employees of any such
corporation doing business In this State
without a license shall be personally Ia
BILE TO the State for any fines imposed
on It. and to any resident of the State
having n claim against such corporation,
and service of legal process upon any
Of said officers. agents or employees shall
be deemed sufficient service on the cor
poration.
Q, This act shall be in force from Its
MASSAGE