Chap. 639.—An ACT to amend and re-enact an act entitled an act to require the
payment of fees on certain charters, approved February 10, 1890, as amended
and re-enacted by an act approved February 28, 1890, and further amended and
re-enacted by an act approved January 22, 1894, and aa further amended and
re-enacted by an act approved March 3, 1896.

Approved March ], 1898.

1. Be it enacted by the general assembly of Virginia, That an act en-
titled an act to require the payment of fees on certain charters, ap-
proved February tenth, eighteen hundred and ninety, as amended and
re-enacted by an act entitled an act to amend and re-enact section one
of the said act, approved February twenty-sixth, eightcen hundred and
ninety, and further amended and re-enacted by an act entitled an act to
amend section two of said act, approved January twenty-second, eigh-
teen hundred and ninety-four, as further amended and re-enacted by an
act entitled an act to amend and re-enact said act, approved March
third, eighteen hundred and ninety-six, be amended and re-enacted so
as to read as follows:

§ 1. Be it enacted by the general assembly of Virginia, That every
charter of incorporation hereafter passed or renewed or extended by the
general assembly of Virginia shall be, and continue to be, wholly inope-
rative and ineffectual for any and all purposes whatever until the pay-
ment of fee to be ascertained and fixed as follows:

For a company whose maximum stock is five thousand dollars
or under, twenty-five dollars; for a company whose capital stock is over
five thousand dollars and not to exceed ten thousand dollars, fifty dol-
lars; over ten thousand dollars and not to exceed twenty-five thousand
dollars, seventy-five dollars; over twenty-five thousand and not to ex-
ceed fifty thousand dollars, one hundred and twenty-five dollars; over
fifty thousand dollars and not to exceed one hundred thousand dollars,
two hundred dollars; over one hundred thousand dollars and not to ex-
ceed three hundred thousand dollars, three hundred and twenty-five
dollars; over three hundred thousand and not to exceed five hundred
thousand dollars. four hundred and fifty dollars; over five hundred
thousand dollars and not to exceed eight hundred thousand dollars, five
hundred and seventy-five dollars; over eight hundred thousand dollars
and not to exceed one million dollars, seven hundred and fifty dollars;
over one million dollars, one thousand dollars.

For the purpose of this act, the amount to which the company is au-
thorized by the terms of its charter to increase its capital stock shall be
cons.dered its maximum capital stock, but the fee to be paid under this
section shall in no case exceed the sum of one thousand dollars: pro-
vided, however, that building fund associations shall pay twenty-five
dollars only for each certificate of incorporation filed or charter granted:
and provided further, that no fee shall be required of the companies
organized for religious, benevolent, or literary purposes, or such com-
panies as are not organized for profit and have no capital stock; mutual
insurance companies, and other mutual companies not organized for
sirictly benevolent or charitable purposes shall pay a fee of twenty-five

ollars.

§ 2. Where a charter of incorporation is to be granted, renewed, or
extended under the provisions of section one thousand one hundred and
forty-five of the code of Virginia, the fees shall be as follows:

For a company whose maximum stock is five thousand dollars or under,
jijteen dollars ; for a company whose capital stock is over five thousand dollars
and not to exceed ten thousand dollars, thirty dollars ; over ten thousand dol-
lars and not to exceed. twenty-five thousand dollars, forty-fire dollars; over
twenty-five thousand dollars and not to exceed fifty thousand dollars, seventy-
five dollars ; over fifty thousand dollars and not to exceed one hundred thou-
sand dollars, one hundred and twenty dollars; over one hundred thousand
dollars and not to exceed three hundred thousand dollars, one hundred and
ninety-five dollars ; over three hundred thousand dollars and not to exceed five
hundred thousand dollars, two hundred and seventy dollars ; over five hundred
thousund dollars and not to exceed eight hundred thousand dollars, three hun-
dred and forty-five dollars ; over eight hundred thousand dollars and not to
exceed one million dollars, four hundred and fifty dollars; over one million
dullars, six hundred dollars.

The clerk of the court in which, or the judge thereof in vacation, such
charter is to be granted shall collect such fees and receipt for the same
to the party or parties presenting the petition for incorporation; and such
court, or the judge thereof in vacation, shall not consider such petition
nor grant such charter unless the clerk’s receipt for the proper fee, as
hereinbefore provided, is presented therewith. When such charter is
granted by the court or judge, it shall be the duty of the clerk to record
the same and forthwith to pay into the state treasury such fee less the
amount of five per centum, which said clerk may retain as compensa-
tion for collecting the same: provided, however, in case the court, or
judge thereof in vacation, denies such petition for incorporation, then
the clerk is to refund to the party or parties presenting such petition the
fee paid by them: and provided, further, in case the court, or judge
thereof in vacation, increases or diminishes the amount of the capital
stock of such company, that the clerk is to collect such additional fee
before recording such charter, and to do with the same as above directed,
or to refund such over-payment as may previously have been made; and
the fact of such payment, in case the charter is granted under the pro-
visions of section one thousand one hundred and forty-five of the code
of Virginia, shall be certified by the auditor of public accounts to the
secretary of the commonwealth; and where the act of incorporation is to
be passed by the general assembly, such fee shall be paid direct into the
state treasury, and said fee shall be thus paid before the bill providing
for the incorporation or renewal or extension shall be referred to the
committee of either house of the general assembly by the clerk of
said house, or before any other action shall be taken on said bill,
and such payment shall be evidenced by the receipt of the state
treasurer produced to said clerk: and it is further provided that no
fee shall be required to be paid on any amended charter that has
been passed during the present session of the general assembly, or
may hereafter be passed, or on any charter confirming or amending
a charter granted by a court or judge thereof in vacation, unless the max-
imum amount of the capital stock shall be increased, or extended or re-
newed, in which case the same proportionate charge for such increase
shall be made as hereinbefore provided; but if no fee shall have been paid
on the granting of the original charter, the fee to be charged when such
amended charter is granted shall be the same as if the amended charter
was an original charter; and if any amendment is offered to a bill in-
creasing the capital stock of such company, a tax shall be paid on the
amount of the increase as hereinbefore provided; and if there is an ex-
tension or renewal of said charter the same fee shall be paid as in case
of an original charter, and if the capital stock is decreased, the decrease
shall be refunded as hereinbefore provided; and further, if the general
assembly should fail or refuse to pass any bill of incorporation, the tax
or fees paid as aforesaid shall be returned to the parties applying for said
charter upon the certificate of the keeper of the rolls that said bill was

not passed. Coogle
§ 3. In the case of charters granted under the provisions of section
one thousand one hundred and forty-five of the code of Virginia, or by
the general assembly of Virginia, and in the case of any company orga-
nized under the laws and the jurisdiction beyond this state, and propos-
ing hereafter to transact business in this state, the secretary of the com-
monwealth shall not record the articles of incorporation, nor shall the
companies have the right to transact business or conduct operations of
any character in this state, until the fact of the payment of proper fees
in each case, as hereinbefore provided, has been certified to him by the
auditor of public accounts.

2. This act shall be in force from its passage.