Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1903-02-18
Governor Cummins Likely to
Make Recommendations Re-
lating to Needed Changes
ARTICLES OF INCORPORATION
Plan to Have All Such Documents
scrutnized by the Attorney General
Before They Are Approved = Some
Restriction May Be Put on Incorpo-
ration of New Concerns in Future.

Des Moines, Feb. Isl. is likely thai
| the general assembly Will make some
important recommendations relative t.
a change in the laws regarding incor-
porations. The governor and Attorney
! General Mullan have recently been con-
sidering some needed changes in these
laws and have come to the conclusion
that provision ought to be made for
closer scrutiny of articles OF incorpora-
ton.
The plan recommended will probably
be that whenever set of articles of
incorporation is presented for filing at
shall go to the attorney general. 1t
will be passed on by that officer and
then turned over to the executive coun-
ell. II it passes the scrutiny of both
the attorney general and the executive
council satisfactorily, 1t will then be
turned over for recording to the office
of the secretary of state.
The necessity for some such legis!a-
ton as this has long been felt, and
quite as much in the secretary of states
Office as anywhere. AT the rate incor-
poration articles have been coming into
the secretary of states office in recent
months. it is impossible for the Chief
clerk to give each set of articles eX-
treme care and the closest attention.
Besides. it is a serious Question wheth-
Ell under the present Law there is any
check on incorporating, except In the
case of insurance companies and
building and loan associations. 1t is
expected the chief clerk in the score
tary of states Office shall go into. min
ute questions as to whether a set of
articles is legal. 1t is felt the state law
should lodge with some one complete
authority to prevent the filing of arti-
cles that are not in the strictest COM
pliance with law in every particular.
The governor and attorney general
have come to the conclusion that the
sible.
If followed out, there would be no
question as to the character of Il con-
Germ that had safely run the gauntlet
of safeguards. The plan suggested
would entail much additional work on
the attorney generals office. In fact
it would require an additional assist
ant to devote his whole time to eN-
articles of incorporation. Mr..
Mullans desk now contains a number
Of articles which have been referred to
him but which he has been too busy
to look into. While entailing an addi-
tional burden on the Office of the attor-
ney general, the measure proposed
would relieve the secretary of states
office of the burden of passing on
articles. Such concerns
as investment companies, are the
ones that now give perpetual trouble
to the secretary of states office, the
office of the attorney general and the
council and clearing UP of the law Civ
ing someone greater authority to pass
on all concerns containing a hidden
scheme of any sort will, it is agreed,
be for the public benefit.
1t has been suggested that the law
ought to be broad enough to make
It possible for the attorney general or
to summarily check the in
to do business on any other
than a practical and legal business
oasis. This would solve the difficulties
hat come up every time a concern with
a new plan for circumventing the law
.ries to force it's way into the list of
companies