The Republican journal., 1915-04-08
sand nine hundred seventeen.-(Ap-
proved April 1, 1851
Chapter 314

porations delinquent in payment of their
franchise taxes.
prepare list Of all corporations, giving
the corporate name, the name of the
treasurer last fled In, the office Of the
secretary OF State. that have failed to
Of the years nineteen hundred and twelve,
nineteen hundred and thirteen or nine
teen tee hundred fourteen. and the amount of
cept those from which by reason Of hav-
ing been duly excused, as provided by
statute, or dissolved by decree Of court,
no iranchise tax is due for either Of said
nineteen hundred and thirteen or nineteen
hundred and fourteen, which list shall be
published three times for three consecu-
I'VE I'VE weeks N the month Of August, nine
within the State Of Maine, namely, Ban
gor, Portland and Augusta, in such news
CARERS saata IN each place as the secretary Of
corporation SO advertised, which shall
fail to pay all franchise taxes due the
STATE Tor either Of said years and the
expenses sFo,s - OF az advsrtsng the same on or
year Of our Lord. nineteen hundred fif-
teen, snail be suspended. and such cor
same. '1'0
Section 2. The secretary of State shall
in the year Of our Lord nineteen hundred
and sixteen, and. annually thereafter, pre-
pare list Of all corporations. giving the
urer last filed in the office Of the secre-
tary OF State, that have failed to pay
their annual franchise tax for the proceed
Ing year and the amount of the tax due
from each corporation, except those from
which by reason Of having been duly ex-
cused as provided by statute, or dissolved
by decree of court, no franchise tax is
due for such year. which lists shall be
published three times for three consecu-
tive weeks in the month of August in
three places within the State of Maine,
namely, Bangor. Portland and Augusta.
In such newspapers in each place as the
secretary of State may select. The char
ter OF any corporation so advertised.
which shall fail to pay all franchise tax
due the State for such year, and the
before the first day of December follow
ing, shall be suspended, and such cor
poration shall have no right to use the
same.
Section 8. Any charter suspended under
either of the two foregoing sections NAV
be revived by payment of all franchise
taxes and expenses of advertising as
aforesaid due from the corporation at
the time of such payment An CORPORA
ton where the charter shall have be-
come come suspended as aforesaid. shall CON
t UNI ilahle for its yearly franchise tax,
aforesaid, no notice relating to said fran
ch1se tax need be sent to the CORPORATION
BY BY any 1.o. State officer. The data covering
.iiN q VI Sd4N Cn2fter, TO Wit. tha
fact of the publication of the same and
the dates thereof, and the avoidance of
SAID charter by reason of such Dublca
tion, ana the failure to pay said overdue
iIaHcH4se lax as herein provided shall be
SO entered uno1 the CORPORATION records
OF the state and be certified by the sec
retary OF state as evidence of the sls-
alton. W. pot
SECTION T. Any person or persons who
Snail undertake to do business, or do
s business Of any kind in behalf of any
such corporation, or shall hold out such
corporation as doing business. or shall
sell. transfer or put upon the market anv
stocks or other evidence of Indebtedness
WIZ mha.so ,s OF any such corporation
nerein provided. shall be subject to a
fine Of three hundred dollars ror W. "a.
benefit of the state.-(Approved April
Chapter 315.
An Act to amend Sections ffty-s;x ard
nItS-seHen OF Chapter forty-seven If
We teF1sed statutes, relating to rights
OF min Stockholders,
Section l. Section fifty-six of cta,,tar
Iorty-seVen of the Revised Sta,utes y
nereoy -, amended by adding after the
section WotH Ease f5 vdr IN The tirat line of said
adding after the word 'frlnchises', IN IN
the second line of said section the fol- a.
lowing words or its entire propertv ~.
or;y-i1 W. i.s propetty, corporate rights or
rs corporate business and purposes
otherwise than in the ordinary and usual
course COY. of its business; and by striking
after the word notice" in the thir ira t ina
o. said section, and by adding after III
word defined" in the last line of ssid
efis.oh ne ne words except as to fran
sections shall not be held to apply TO
MORTGAGES of corporate propeitv' 81
mat Sald section as amended shall read
Section S. No corporation shal, so,,
tease, consolidate or in any manner ia ~
with its franchises, or its entire mon
e cry or any any,. Of Its property, corporate
Duct of its corporate business and pur-
poses otherwise than in the Ordinary,
ana usual N course of its business except
WIN me consent Of its stockholders at
Tor which shall give notice Of the pr re,i
posed sale, lease or consolidation, An
s shcm s, sales, lease and consultations
and the eleven following sections. and
to the prior lien CT stockho!ders as
f 5is and de Inc Eseept as to franchises
shall not be held to apply to mortgage TRACES
OF corporate property
section Section fifty-seven of chap
ter forty-seven of the Revised Statutes
y, Sor percy ely a. by striking out the
llon, and by adding after the word con
solidate" in the second line of said sec
ton the following words: or in any
manner part with and by adding after
the word franchise" in the second line
OF said section the following words or
~ entire property. or any Of it's prop
erty; corporate rights or privileges es-
sential to the conduct of Its corporate
business and purposes, otherwise than
IN the ordinary and usual course of its
business, so that said section as amend
ed shall read as follows:
section 81. If any stockholder in any
CORPORATION which shall vote to sell
part with its franchises. or its entire
property, or any Of it's property cor
porate rights or privileges essential to
the conduct of its corporate business
ana purposes. otherwise than in the ordi-
nary and usual course of Its business,
snall vote in the negative and shall file
ms Wrltfen dissent therefrom with the
corporation within one month from the
DAY OF such vote. the corporation, in
which he is a stockholder may within
one month after such dissent Is 80 filed,
enter petition with the supreme Judi
cial court sitting in equity, in the coun-
in term time in vacation. setting
forth in substance the material facts Of
the transaction, the action of the cor
poration thereon. the names and resi-
denotes of all dissenting stockholders
whose dissents were SO filed, making
thereto, and praying that the value Of
the shares of such dissenting stock
holders may be determined. and for
other aan,, , appropriate relief.'-(Approved