Chap. 156.—An ACT to amend and re-enact Section 213 of the Tax Code of Vir-
ginia, relating to necessity for payment, by corporations, of certain taxes, fees
and dues, assessed by the State Corporation Commission, as prerequisite to
taking certain steps before, and securing certain actions by, the Commission,
and relating to relief therefrom under certain circumstances; so as to except,
from necessity of such prepayment, corporations whose incorporators make
voluntary surrender of corporate rights and franchises. [S B 97]

Approved March 9, 1942

1. Beit enacted by the General Assembly of Virginia, That section
two hundred and thirteen of the Tax Code of Virginia be amended and
re-enacted, as follows:

Section 213. Payment of franchise taxes, registration fees, and
other taxes, fees and dues, assessed by State Corporation Commission,
prerequisite to issuance of charters, amendments thereto, certificates of
consolidation or merger, and orders and certificates of dissolution; such
prepayment not prerequisite to issuance of certificates upon voluntary
surrender by incorporators, though obligation to Commonwealth con-
tinues; corporations dissolving or surrendering certificate of authority,
incorporators making voluntary surrender, prior to February fifteenth in
any year, relief—No charter shall be issued, nor any amendment to any
charter be made, nor any certificate of consolidation or merger issued, nor
any order of dissolution of any corporation be made, nor any certificate
of such dissolution be issued, under the existing or under the future
laws of this State, until all franchise taxes, registration fees, other taxes,
fees and dues, assessed by the State Corporation Commission, authorized
as prescribed by the existing statutes of the State or such as may be
hereafter imposed by the State, shall have been paid; provided, that a
certificate may be issued upon a voluntary surrender by incorporators
under provisions of section thirty-eight hundred and nine of the Code of
Virginia, as amended, without requiring prepayment of such taxes, fees
and dues, but the issuance of such certificate shall not have the effect of
releasing any obligation that has accrued in favor of the Commonwealth
on account of any such assessment, except as provided hereinafter ; and
provided, that no corporation which complies with the provisions of law
as to dissolution and files the consent to dissolution in the office of the
Commission, or whose incorporators make a voluntary surrender of the
charter in accordance with provisions of section thirty-eight hundred and
nine of the Code of Virginia, as same may be amended, prior to the
fifteenth day of February in any year, shall be required to pay the regis-
tration fee or franchise tax for that year, nor shall any foreign corpora-
tion which surrenders its certificate of authority to do business in this
State prior to the fifteenth day of February in any year be required to
pay the registration fee for that year. It shall be the duty of the Com-
mission to enter an order withdrawing and cancelling the assessments
above specified remaining unpaid after such dissolution of a domestic cor-
poration, surrender of corporate rights and franchises by incorporators, or
withdrawal of a foreign corporation.