Chap. 227.—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 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, as amended by an act approved March 17, 1906.

Approved March 12, 1908.

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 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,” approved
April sixteenth, nineteen hundred and three, as amended by an act
approved March seventeenth, nineteen hundred and six, be amended and
re-enacted so as to read as follows:

§41. Every domestic corporation, other than a purely charitable in-
stitution, and every foreign corporation doing business in this State,
whose’ 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 dollars; a corporation whose maximum capital stock is over
fifteen. thousand dollars, and does not exceed fifty thousand dollars,
shall pay an annual registration fee of ten dollars; a corporation whose
mamixum capital stock is over fifty thousand and does not exceed one
hundred thousand dollars, shall pay an annual registration fee of fifteen
dollars; a corporation whose maximum capital stock is over one hun-
dred thousand dollars, and does not exceed three hundred thousand
dollars, shall pay an annual registration fee of twenty dollars; and a
corporation whose maximum capital stock exceeds three hundred thou-
sand dollars, shall pay an annual registration fee of twenty-five dol-
lars; said annual registration fee shall be irrespective of any specific
license tax or other tax or fee imposed by 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
corporations, as of the first day in 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 corpora-
tion.
The State corporation commission may require every domestic and
foreign corporation, 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 corporation as the commission may call for..

The failure of any corporation for two successive years to pay its
annual 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 coporation,
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
consecutive weeks in a daily newspaper published in the city of Richmond,
Virginia.

The failure of any corporation to pay its annual registration fee
for any single' year shall, when such failure shall have continued for
ninety days after the same has been assessed, subject such corporation
to a fine of not less than double the amount of such assessment, to be
imposed and judgment entered therefor by the State corporation com-
mission.