The Birmingham age-herald., 1907-12-06
CAREER BELIEVES LOAN LAW IS GOOD Says Part of Old Law May Be SeWed Onto the New PART Is MINISTERIAL Error Made By Enrolling Clerk of the House Who Copied Bill Without
 the Section Omitted.
 The Full Bill.
PART Is MINISTERIAL
BY HERVEY w. LAIRD.

l Attorney General Garber believes the loan i tax bill will >hold good even though the l whole of the act was not signed by the
 governor. Though the title of the bill
 provides for amendment of two sections
 with only one signed, it is thought the fact that the part signed carries all the
 meat of the measure.
 With Ii in force the last section, which is purely ministerial, may be taken from the old law applied to the new and make a new act fully equal to the situation.
 MT. Garber however is not yet able to say just what will be the effect of the
 bill containing less than the title He be- l lieves, however, off hand, that the law will be able to stand as it passed.
 The signing of the loan tax bill with
 a portion left out by the governor results
 from an error made by the enrolling clerk of the house. who copied 1t without the
 section omitted. The full bill, with the
 printed part and that part left out, is l given below.
 Text of the Bill.
 To amend sections 1921 and 1922 of the i Code of 1886 as amended by the act ap-
 proved March T. 1907
 Section 1. Be 1t enacted by the legisla-
 ture of Alabama that section 1921 of the
 Code of 1906 be and the same is hereby amended SD as to read as follows:
 '132l Admission fees exacted of foreign corporations. No corporation created by
 the laws of other states or of any foreign country texcept foreign corporations which qualified in good faith to do busi- ness in this state prior 10 March :, l9O0
 shall engage in or transact any business in this state without first having paid into the treasury for the use of the state the following charter fees: Each foreign cor poration whose actual capital employed
 or to be employed in this state is $io0 or less shall pay fee of 25 per cent of the
 actual capital employed or to be employed in this state by it. Each foreign corpor-
 alton whose actual amount of capital
 employed in this state exceeds s1O0 and
 does not exceed 5000 shall pay a charter fee of 20 per cent upon the first s1OO Of the actual amount of capital employed m this state by it, and per cent upon all
 such remaining actual amount employed in this state by it over $10O, and up to
 and not exceeding the said limit of sl000
 Each foreign corporation whose actual
 amount of capital employed in this state exceeds $1000 shall pay d charter fee of
 9 per cent on the first $l00 of actual
 amount of capital employed in this state
 by it and per cent upon all such &C.,
 tual capital employed in this state by it over $100 and up to S1000 And one-tenth
 
 capital in excess of 5000 All corpora tions of mutual companies which have no l capital stock, and all corporations which 1 shall engage in this state solely in the 1 lending business shall pay a fee of s25.
 The Portion Omitted.
 Following is the portion omitted:
 Section 9 That section 1922 of the code 1 of 1896 be and the same is hereby amend l ed so as to read as follows:
 1922. Statement to be filed. Such for eign corporation shall at the time of paying such fee into the treasurer file in
 the office of the state auditor an instru- ment of writing under the seal of the corporation and signed officially by the
 president or other chief officer and the secretary of such corporation, showing 1 the name of the corporation and the 1 state or county under whose laws 1t was l Incorporated, the amount of the total au- i thorized capital of such corporation, Is i principal place of business, the name of its i authorized agent of such corporation in | this state and the postoffice address of
 such authorized agent of such corpora l ton in this state, and the location of the 1 principal place of business of such cor 1 poration in this state and also a state- l ment showing the actual amount of cap- 1 tai employed in the state by such cor l poration if such corporation is at the
 date of the filing of such statement en- 1 gagged in business in this state, and if ] such corporation is not at the date of i the filing of such statement engaged in l business in this state, such statement l shall state the actual amount of capital ] to be employed by such corporation in 1 this state, which statement shall be sworn to by such president or other eX- ecutive officer and the secretary of said l corporation before an officer authorized
 .1.z,. l,,4fr ,tatn l oats or take ackno wledgments of convey ] ances. If the auditor shall have reason | to believe that any of the statements l made in such statement so filed in his 1 office is untrue or that any fact or facts 1 stated in such instrument are incorrectly l stated, ne shall have power to demand l of such corporation, it's officers or agents, an inspection of the books, records and ! papers of said corporation for the pur-
 pose of ascertaining the truth or falsity
 of any such statement, and any such | corporation that shall refuse to permit the 1 auditor or such person as may be desig- | mated by him to inspect the books, rec i ords and papers of such corporation when | such inspection is dema nded by the audi
 tor, shall not be allowed to do any busi- | ness or transact any act in It's corpora tc i capacity in this state until such inspec- l tion Is made. If the auditor. upon making | such inspection of the books records anc ! papers of such corporation, shall tinC l that the amount of capital to be employee
 or which is employed by the said corpora l ton In this state is in excess of the
 amount stated in such statement filed bs | such corporation hes hall demand upol | such corporation, it's agents or officers | the payment of the difference in amount l between the charter fee for which suc | corporation would be liable upon the 1 amount of capital set forth in such state l ment and the amount of the charter fec 1 for which such corporation would be l liable upon the amount of said capital as
 ascertained by the auditor from his in spection of the books, records and papers
 of such corporation. and any such cor ! poration which shall fail, or refuse, foi l the space of 60 days after the date oi l such demand is made by the auditor, tc 1 pay such amount shown to be due by il 1 in such statement. shall not be permit l ted to engage in business or do any act | in it's corporate capacity in this state 1 at any time within five years from the l date of such demand.
 And it shall be unlawful for any cor 1 poration organized or doing business un- 1 der the laws of this state, whether a l domestic or foreign corporation, and in l case of foreign corporation, whether II | has compiled with the laws of this state