The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1917-03-01

SENATE BILL No. 231.
AN ACT amendatory of and supplemental
to section 81, of chapter 140 of the Laws
of the state of Kansas of 1907. entitled
An act relating to private corporations
and amendatory to the PROVISIONS of Ger;
Statutes of 1901, and repeating para
graphs Nos, 124s. 1249, 1850. 1851, 1852, 1858.
1862. 1868, 1864 1865, 1896 1867, 126S, 1863
12l0 12l1, 1212. 1918, 12s3 1854 and 1911 of
$50. Laws of 1907 and repeating said
original section 81, and all acts and parts
of acts in conflict herewith
Be it enacted by the Legislature of the
State of Kansas:
Section 1. That section 80 of chapter 40
Of the Laws Of 1907. be and the same is
Section 81. Every corporation created and
existing under the act to which this is
amendatory, under any general law of
the state Of Kansas shall commence active
operations within one year after it's char
ter has been filed with the secretary of
state, and in default thereof said corpora
ton shall become dissolved by operation of
law, and without judicial proceedings to
that end, and the notice of such dissolution
shall be published by the secretary of state.
in the official state paper, twice each week
for three successive weeks thereafter, or. a
decree of dissolution may be made by any
court of competent jurisdiction, for any
cause. as now or hereafter may be provided
by law, on the application Of any stock
sets, if any, may be distributed dis
posed of as hereinafter provided
der the laws of the state of Kansas shall
become insolvent. shall be dissolved as
reason of the expiration of its charter or
for any other reason, its property and
sets, u any. shall be. applied by the
ceiver of such corporation, if one shall have
been appointed, in payment and liquidation
of any outstanding or unpaid liabilities. If
any. upon competent proof to the satisfac
ton of such receiver. that any such liability
has not been paid and is still outstanding.
Sec 3 After the payment of existing or
unpaid liabilities by the receiver, afore
said, the remaining assets and property of
such corporation shall be disbursed and
paid by the receiver to the stockholders of
such corporation, who shall under the
order of the court, appointing such receiver
and within time and manner to be fixed
by the court make proof by competent evil
dence. to the satisfaction of the receiver
to their right stockholders to participate
in such distribution. which shall be made
pro rata to the stockholders, who shall
establish their claim thereto, within the
time and manner as hereinbefore described.
And the receiver shall thereupon make re-
port to the court his action in the premises
aforesaid. and upon such report being
made and approved by the court. all stock
holders whose claims as such have not been
esta blished within the time and manner
aforesaid. shall, upon the approval of the
court of the report of such receiver be for
ever barred and precluded from setting up
or claiming any title to any of the assets
and property of the corporation, so dis
bursed and distributed pro rata to such
stockholders whose claims have been estab-
ished as aforesaid; provided, that the pro-
railroad company railway corporation
organized or existing under the laws of
the state of Kansas.
Sec. T. Original section 80 and all acts
and parts of acts in conflict herewith are
hereby repealed.
Sec. ). This act shall take effect and be
in force from and after its publication in
the official state paper.
I hereby certify that the above Bill origi-
mated in the Senate, and passed that body
February e, 1917.
w. Y. MORGAN
President of the Senate.
f. d. GEORGE,
Secretary of the Senate.
Passed the Heuse Feb, %, 1917.
A. NJ. KEENE.
Speaker of the House.
CLARENCE w. MILLER.
Chief Clerk of the House.
Approved February %. 1917,
ARTHUR CAPPER, Governor.
STATE OF KANSAS
OFFICE OF SECRETARY OF STATE
I, ]. T. BOTKIN. Secretary of State of
the State of Kansas. do hereby certify that
the above and foregoing is a correct copy
of the original enrolled bill now on file
in my office.
IN TESTIMONY WHEREOF, 1 have
hereunto subscribed my name
tSeaLl and affixed my official seal
this 9th day of February,
1917.
J. T. BOTKIN. Secretary of State
By E. A. CORNELL.
Asst. Secretary of State.
First published in Topeka State Journal,