Chap. 509.—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
by an act approved February 28, 1890, as amended by an act approved January
22, 1894, as amended by an act approved March 3, 1896, as amended by an act
approved March 1], 1898, as amended and enacted by an act approved March 6,
1900.

Approved April 2, 1902.

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 by an
act approved February twenty-eighth, eighteen hundred and ninety, as
amended by an act approved January twenty-second, cighteen hundred
and ninety-four, as amended by an act approved March third, eighteen
hundred and ninctv-six, as amended by an act approved March first,
eighteen hundred and ninety-eight, and as amended and re-enacted by
an act approved March sixth, nineteen hundred, be amended and re-
enacted so as to read as follows:

§ 1. On every charter of incorporation hereafter granted, renewed, or
extended by an act of the general assembly a fee shall be paid, which shall
be ascertained and fixed as follows—to-wit:

The fee shall be, for a company whose maximum stock is five thousand
dollars or under, twenty-five dollars; for a company whose maximum cap-
ital stock is over five thousand dollars, and not to exceed ten thousand
dollars, fifty dollars; for a company whose maximum capital stock is
over ten thousand dollars, and not to excced twenty-five thousand dollars,
seventy-five dollars; for a company whose maximum capital stock is over
twenty-five thousand dollars, and not to exceed fifty thousand dollars,
one hundred and twenty-five dollars; for a company whose maximum
capital stock is over fifty thousand dollars, and not to exceed one hun-
dred thousand dollars, two hundred dollars; for a company whose maxi-
mum capital stock is over one hundred thousand dollars, and not to ex-
ceed three hundred thousand dollars, three hundred and twenty-five dol-
lars; for a company whose maximum capital stock is over three hundred
thousand dollars, and not to exceed five hundred thousand dollars, four
hundred and fifty dollars; for a company whose maximum capital stock
is over five hundred thousand dollars, and not to exceed eight hundred
thousand dollars, five hundred and seventy-five dollars; for a company
whose maximum capital stock is over eight hundred thousand dollars, and
not to exceed one million dollars, seven hundred and fifty dollars; for a
company whose maximum capital stock is over one million dollars, and
not to exceed ten million dollars, one thousand dollars; for a company
whose maximum capital stock is over ten million dollars, and not to ex-
ceed twenty million dollars, one thousand two hundred and fifty dollars;
for a company whose maximum capital stock is over twenty million dol-
lars, and not to exceed thirty million dollars, one thousand five hundred
dolllars; for a company whose maximum capital stock is over thirty mil-
lion dollars, and not to excecd forty million dollars, one thousand seven
hundred and fifty dollars; for a company whose maximum capital stock
is over forty million dollars, and not to exceed fifty million dollars, two
thousand dollars; for a company whose maximum capital stock is over
fifty million dollars, and not to exceed sixty million dollars, two thou-
sand two hundred and fifty dollars; for a company whose maximum capi-
tal stock is over sixty million dollars, and not to exceed seventy million
dollars, two thousand five hundred dollars : for a company whose maxi-
mum capital stock is over seventy million dollars, and not to exceed
eighty million dollars, two thousand seven hundred and fifty dollars;
for a company whose maximum capital stock is over eighty million dol-
lars, and not to exceed ninety million dollars, three thousand dollars:
for a company whose maximum capital stock is over ninety million dol-
lars and upward, five thousand dollars. The provisions of this section as
amended shall apply to all bills for charters which have not this day been
enacted into laws.

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
considered its maximum capital stock, but the fee to be paid under this
section shall in no case exceed the sum of five thousand dollars: pro-
vided, however, that building fund associations shall pay twenty-five dol-
lars only for each certificate of incorporation filed or charter granted : and
provided, further, that no fee shall be required of the companies for re-
ligious, benevolent, or literary purposes, or such companies as are not
organized for profit and have no capital stock; mutual insurance com-
panies, and other mutual companies not organized for strictly benevolent
or charitable purposes, shall pay a fee of twenty-five dollars.

When a charter of incorporation is amended by act of the general as-
sembly, and by such amendment the maximum amount of the authorized
capital stock is increased, a fee shall be paid thereon, and the amount of
the fee in such cases shall be an amount equal to the difference between
the amount already paid on the original charter and the amount required
by this act to be paid on the maximum amount of capital stock provided
for in such amendment; but if no fee was paid on the original charter,
then on such amended charter the same fee shall be paid as is provided to
be paid on original charters under this act; and if by such amendment
the time of limitation, or the territorial jurisdiction of a charter, be ex-
tended, or the powers and privileges be increased, then the same fee shall
be paid as is provided by this act to be paid on original charters.

When a charter granted under section one thousand one hundred and
forty-five of the Code of Virginia is ratified, confirmed, or amended by
an act of the general assembly, the fee to be paid shall be an amount
equal to the difference between the fee paid on the original charter and
the fee required by this act to be paid on such amended charter if granted
as an original charter by act of the general assembly.

The fees required to be paid by this section shall be paid to the State
treasurer, and said fees shall be so paid before any bill granting, amend-
ing. or confirming a charter on which a fee is payable under this act shall
be referred to a committee of cither house of the general assembly, or
before any other action shall be taken on said bill, and such payment
shall be evidenced by the certificate of the auditor of ‘public accounts pro-
duced to the clerk of the house in which said bill originates.

Tf the fee on any charter is paid and said charter is not granted, then
such fee shall be refunded to the person or persons paying the same;
and if a bill to incorporate any company is amended while pending so as
to reduce the maximum capital stock below the amount on which the fee
is paid, then the excess of said fee shall be so refunded; and if such a bill
is so amended while pending so as to increase the maximum amount of
the capital stock above the amount on which the fee has been. paid, then
an additional amount shall be paid as above provided, so as to make the
total payment equal to the fee provided for in this section, and no such
amendment shall be finally adopted until such additional amount is so

aid.

a 2. Where a charter of incorporation is to be granted, renewed, or
extended under the provisions of section one thousand one hundred and
fortv-five of the Code of Virginia. and in the case of any company or-
ganized under the laws of a jurisdiction beyond this State, and proposing
hereafter to transact business in this State under the requirements of
sections eleven hundred and four and eleven hundred and five of the Code
of Virginia, the fees shall be as follows:
592 ACTS OF ASSEMBLY.

For a company whose maximum capital stock is five thousand dollar:
or under, fifteen dollars; for a company whose maximum capital stocl
is over five thousand dollars, and not to exceed ten thousand dollars
thirty dollars; for a company whose maximum capital stock is over ter
thousand dollars, and not to exceed twenty-five thousand dollars, forty-
five dollars; for a company whose maximum capital stock is over twenty:
five thousand dollars, and not to exceed fifty thousand dollars, seventy-
five dollars; for a company whose maximum capital stock is over fifty
thousand dollars, and not to exceed one hundred thousand dollars, one
hundred and twenty dollars; for a company whose maximum capital stock
18 Over one hundred thousand dollars, and not to exceed three hundred
thousand dollars, one hundred and ninety-five dollars; for a company
whose maximum capital stock is over three hundred thousand dollars,
and not to execed five hundred thousand dollars, two hundred and sev-
enty dollars; for a company whose maximum capital stock is over five
hundred thousand dollars, and not to exceed eight hundred thousand dol-
lars, three hundred and forty-five dollars; for a company whose maximuin
capital stock is over eight hundred thousand dollars, and not to exceed
one million dollars, four hundred and fifty dollars; for a company whose
maximum capital stock is over one million dollars, six hundred dollars.

When a charter of incorporation is amended under the provisions of
section one thousand one hundred and forty-five of the Code of Vir-
ginia, and by said amendment the authorized amouht of the maximum
capital stock is inereased, a fee shall be paid thereon, and the amount of
the fee in such cases shall be an amount equal to the difference between
the amount already paid on the original charter and the amount re-
quired by this section to be paid on the maximum amount of capital
stock provided for in such amendment; but if no fee was paid on the
original charter, then the same fee shall be charged on such amended
charter as is provided to be paid on original charters under this section:
and if by such amendment the time limitation or territorial Jurisdiction
of a charter be extended, or the powers and privileges therein conferred
he increased, then the same fee shall be paid on such amended charter as
is provided by this section to be paid on original charters.

The clerk of the court in which, or the judge whereof in vacation.
such charter is to be granted shall collect such fees and receipt for the
came to the party or parties presenting the petition or certificates for in-
corporation: 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 hercinhefore provided is presented therewith. When
such charter is granted by the court or judge, it shall he the duty of the
clerk to record the same, and forthwith to pav into the State treasury
such fee, less the amount of five per centum, which said clerk mav retain
as compensation for collecting the same: provided, however, in case the
court, or judge thereof in vacation, denies such petition for incorpora-
tion, 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 as set out in the certificate of the incorporation of such
company, then 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 by such clerk shall be certified by the auditor of public
accounts to the secretary of the Commonwealth.

Any joint-stock company or association organized under a jurisdiction
beyond the limits of this State, and proposing to do business in this
State, shall pay the same fee required by this section of similar companies
organized under the laws of this State, and such fees shall be paid to the
treasurer of this State, and the fact of such payment shall be likewise
certified by the auditor of public accounts to the secretary of the Com-
monwealth.

§ 3. The secretary of the Commonwealth shall not record the charter
of any company or association, whether chartered under the laws of this
State or under the laws of a jurisdiction beyond the limits of this State,
until a certificate of the auditor of public accounts is filed with him
showing that the fees required by this act have been paid in the manner
hereinbefore provided.

§ 4. All charters granted under the laws of this State, whether by the
general assembly or under the provisions of section one thousand one
hundred and forty-five of the Code of Virginia, and all amendments to
such charters, shall be void and of no effect until and except the fees re-
quired by this act to be paid on such charters arc paid; and no company
or association organized under the laws of a jurisdiction beyond the
limits of this State shall have the right to transact business or conduct
operations of any kind in this State until the fees required by law to be
paid by such company or association have been paid.

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