Chap. 294.—An ACT to amend and re-enact section 41 of an act entitled “an
act to raise ‘revenue for the support of the government and public free
schools and to pay the interest on the public debt, and to provide a special
tax for pensions as authorized by section 189 of the Constitution,” approved
April 16, 1903.

Approved March 17, 1906.

1. Be it enacted by the general assembly of Virginia, That section
forty-one of an act entitled “an act to raise revenue for the support of
the government and public free schools, and to pay the interest on the
public debt, and to provide a special tax for pensions as authorized by
section one hundred and eighty-nine of the Constitution,” be amende!
and re-enacted so as to read as follows:

$41. Every domestic corporation, other than a purely charitable inst-
tution, and every foreign corporation doing business in this State, who
maximum capital stock is fifteen thousand dollars, or under, and every
such corporation organized on a mutual basis or without capital stock.
shall pay into the treasury of the State on or before the first day of
March, in each and every year an annual registration fee of five dollar:
a corporation whose maximum capital stock is over fifteen thousand d0-
lars, and does not exceed fifty thousand dollars, shall pay an annual
registration fee of ten dollars; a corporation whose maximum capital
stock is over fifty thousand, and does not exceed one hundred thousand
dollars, shall pay an annual registration fee of fifteen dollars; a corpor
tion whose maximum capital stock is over one hundred thousand dollar.
and does not exceed three hundred thousand dollars, shall pay an annul
registration fee of twenty dollars; and a corporation whose maximnm
capital stock exceeds three hundred thousand dollars, shall pay an annua!
registration fee of twenty-five dollars; said annual registration fee shall
be irrespective of any specific license tax or other tax or fee imposed bi
law upon said corporation for the privilege of carrying on its business in
this State or upon its franchise, property, or receipts.

The State corporation commission shall ascertain from its records the
amount of the authorized maximum capital stock of each of said corpo-
rations, as of the first day of January of each year, and shall assess
against each such corporation the registration fee herein imposed, and a
certified copy of the assessment, when made, shall be forwarded by the
clerk of the State corporation commission, before the fifteenth day of
February, to the auditor of public accounts, and to each such corporation.

The State corporation commission may require every domestic and for-
eign corporations, in the month of January, in each year, and within such
time as it may prescribe, to make to the commission, on forms prescribed
by it, such report of the status, business, and condition of each such cor-
poration as the commission may call for.

The failure of any corporation for two successive years to pay its an-
nual registration fee, or to make such report, shall, when such failure
shall have continued for ninety days after the expiration of such two
years, operate, without further proceedings, as a revocation and annul-
ment of the charter of such corporation, if it be a domestic corporation,
or of its certificate of authority to do business in this State, if it be a
foreign corporation, and the State corporation commission shall publish
the fact of such revocation or annulment once a week for four consecu-
tive weeks in a daily newspaper published in the city of Richmond, Vir-
ginia.