Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1915-04-05
sand nine hundred seventeen.-(Ap-
proved April /, 1881
Chapter 314.

Chapter 314.
An Act authorizing tho secretary of State
to prepare and publish lists of cor
porations delinquent in payment OF their
Section i. The secretary Of State shall
prepare list Of all corporations. giving
the corporate name, the name Of the
treasurer last filed In the office of the
as for ethep
of the years nineteen hundred and twelve,
nineteen hundred and thirteen or nine
teen 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 franchise 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-
tive weeks in the month of August, nine
within the State Of Maine, namely, Ban
gor. Portland and Augusta, in such news
papers In each place as the secretary of
State may select. The charter of any
fail to pay all franchise taxes due the
State for either of said years and the
expenses OF advertising the same on or
before the first day of December, in the
teen. shall be suspended. and such cor
poration shall have no right to use the
same.
Section 2. Tho secretary Of State shall
and sixteen. and annually thereafter. pre-
pare list of all corporations. giving the
corporate name. the name of the treas
urer last filed in the office Of the secre-
tary of State, that have failed to pay
their annual franchise tax for the preced-
ing year and the amount of the tax due
from each corporation, except those from
which by reason of having been duly ex-
al Id h1Ve, ,x,,kN N1y
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
namely, Bangor. Portland and Augusta.
In such newspapers in each place as the
secretary of State may select. The char
ter OF any corporation 50 advertised
due the State. for such year and the
expenses of advertising the same, on or
before the first day Of December follow
ing. shall be suspended, and such cor
same
Section 3. Any charter suspended under
either of the two foregoing sections may
be revived by payment Of all franchise
taxes and expenses of advertising as
aforesaid due from the corporation at
the time of such payment. Any corpora
ton where the charter shall have be-
come suspended as aforesaid, shall con-
"A,
but while its charter is suspended, as
aforesaid. no notice relating to said fran
chise tax need DE sent to the corporation
by any State officer. The data covering
the avoiding of said charter. to wit: the
fact OF the publication Of the same and
the dates thereof. and the avoidance of
said charter by reason of such publ;ca-
tion' ana the failure TO pay said overdue
1rahchise tax as herein provided, shall be
SO entered upon he corporation records
or the state and be certified by the sec
rotary or state as evidence of the sus-
pension Of the charter of such corpor-
alton
Section T. Any person or persons who
shall undertake to do business, or do
s business OF any kind in behalf of any
as do or shall hold out such
sell. transfer or put upon the market any
stocks or other evidence of Indebtedness
whatsoever of any such corporation,
M harat the charter remains suspended as
hne OF three hundred dollars for the
benefit Of the State-(Approved April
/. 1857
Chapter 315.
An Act to amend Sections hfty-six and
niry-ScEen or Chapter fOrty-seven of
tne REVISED Statutes relating TO rights
OF minority stockholders
section !. Section tifty-six of chapter
forty-seven of the Revised statutes is
word lease" in the first ijne of said
section the word consolidate; and by
a ,Ha aeoa after the word franchises in
1 1 second line OF said section the fol-
any of its property, corporate rights or
privileges essential to the conduct Of
ITS corporate business and purposes.
course Of its business; and by striking
out the words "of the subject mattar5
after the word notice" IN the third line
OF said L. section; and by adding after the
section the words except as to fran ram
chises. this and the eleven following
sections shall. not be held to apply to
mortgages Of corporate property, so
that said section as amended shall read
as follows: ''''N
Section Sc. No corporation shall sell
lease, consolidate or in any manner pa ri
with Its franchises, or its entire prop
erty. or any OF it's property. corporal e
rights or privileges essential to the con-
duct of it's corporate business and pur-
poses, otherwise than in the ordinary
with the consent of its stockholders at at
an annual or special meeting, the cali
Tor which shall give notice of the pro.
posed sale, lease or consolidation. All
shall be subject to- the provisions of this
and the eleven following sections. and
TO the prior lien of stockholders as
therein th;a defined. Except as to franchises,
sections
shall not be held to apply to mortga ges
OF corporate property
Section < Section fifty-seven of chap
ter forty-seven of the Revised Statutes
IS hereby amended by striking out the
word Or In the second line of said sec
ton, and by adding after the word CON
solidate" in the second line of said sec
manner part with and by adding after
the word franchise" in the second line
Of said section the following words 'or
its entire property. or any Of it's prop
erty: corporate rights or privileges es-
sential to the conduct of its corporate
IN the ordinary and usual course of its
business so that said section as amend
ed shall read as follows:
section 81. If any stakeholder in any
corporation which shall vote to sell.
lease eonsolidate or in any. manner
property, or any Of its property. cor
porate rights or privileges essential to
the conduct Of its corporate business
ana purposes. other wise than in the ordi-
nary and usual course of its business.
shall vote In the negative and shall file
president. clerk or treasurer of such
corporation within one month from the
day Of such vote the corporation. in
which he is a stakeholder may within
one month after such dissent Is so filed.
enter a petition with the supreme Judi
ty where it held its last annual meeting,
in term time or 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
such dissenting stockholders parties
thereto. and DraVfng that the va1le of