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Session Laws, 1920
Volume 539, Page 631   View pdf image (33K)
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ALBERT C. RITCHIE, GOVERNOR. 631

Taxes by Corporations," be. and the same is hereby repealed
and re-enacted so as to read as follows:

SECTION 99. If any corporation of this State shall refuse or
neglect to pay to the State, or the proper officers thereof, any
franchise tax due by it, or any tax on its capital stock due by
it, or any gross receipts tax due by it, for a space of two years
from the first day of January next after the expiration of the
calendar year during which said taxes became due and pay-
able, it shall be the duty of the Comptroller of the State to
certify immediately thereafter to the Governor a list of all
such corporations, and the Governor shall forthwith issue and
publish his proclamation declaring under this section that the
charters or certificates of incorporation of such corporations
shall be repealed, annulled and forfeited, and that the powers
conferred by law upon such corporations shall be inoperative,
null and void, upon the expiration of thirty days from the
date of the first publication of such proclamation, unless all
such taxes, together with all interest and penalties due thereon,
are paid before the expiration of said thirty days. The Gov-
ernor shall cause said proclamation to be published in at
least three daily newspapers of general circulation published in
the State, once a week for four successive weeks. Any such
corporation paying all taxes, interest and penalties as afore-
said, after the first publication of said proclamation, shall be
omitted from subsequent publications thereof. Immediately
upon the expiration of thirty days from the date of the first
publication of said proclamation, the charters or certificates of
incorporations of all such corporations which have not then
paid all taxes, interest and penalties due as aforesaid, shall be
ipso facto repealed, annulled and forfeited and the powers
granted to such corporations shall be inoperative, null and
void, without the necessity of proceedings of any kind either
at law or in equity. Provided, that any corporation whose
charter or certificate of incorporation shall be forfeited under
this Act, may, within six months thereafter revive the same
and reinvest itself with all the powers conferred upon it by
law under said charter or certificate of incorporation by the
payment of all such taxes, interest and penalties and an addi-
tional fee of twenty-five dollars; and any corporation whose,
charter or certificate of incorporation shall have been for-
feited within six months before the passage of this Act may
so revive the same by the payment of the aforesaid taxes, in-


 

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Session Laws, 1920
Volume 539, Page 631   View pdf image (33K)
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