which the Sec. 724. The president and directors of any railroad or plankroad company in which the State is a stockholder, shall, within Companies in one week after the annual meeting of the legislature each year, State is a report to the same the general condition of the company, the stockholder to amount of capital expended, money borrowed, length of road ly to the legisfinished and under contract, and a particular statement of its receipts and expenditures. D. Sec. 1611. CORPORATIONS GENERALLY. report annual lature. sued, in cases Sec. 725. In all cases where any corporation shall commit when a corpotrespass or do anything for which an action for damage lies, it ration may be shall be liable to be sued in the parish where such damage is of trespass. done or trespass committed. C. P. 162. Act 1855, p. 485. panies may or in part. Sec. 726. Any railroad company established under the laws of this State may, to secure the payment of any obligation con- Railroad comtracted by said company for the construction of the road, mort- mortgage their gage their road, in whole or in part; and such mortgage, if made roads in whole of the entire road, shall bear upon the entire road, though the same be not completed at the time the mortgage was made; and such mortgage may also be made to bind the appurtenances of said road, its warehouses, depots, water-stations, locomotives, etc. C. C. 3281 (3248); D. Sec. 2427. mortgage gaged. Sec. 727. A mortgage made by any of the companies shall Effect of the bind the road, its warehouses, depots, water-stations, locomotives upon the propand other appurtenances, that may be mortgaged in the several erty so mortparishes where the same may be, by the record of the mortgage in the parish where the principal office or domicile of the road Mortgages, may be; and such mortgage need not be reinscribed to continue ed. it in force. C. C. 3369 (3333); D. Sec. 450, 2340, 2399, 2428. where record insurance Sec. 728. The officers of each insurance company incorporated by the laws of this State shall, within one month from the Annual report close or expiration of each year of the corporation, cause to be to be made by published in two or more daily newspapers published in the city companies. of New Orleans, and for the term of at least one month, a full statement under oath of the business of the company, which statement shall contain, first, the amount of premium received during the previous year, specifying what amount was received for life insurance, for insurance against fire, what on marine. policies; second, the amount of losses incurred during the year, specifying and designating what amount of losses have been incurred by the different kinds of policies as aforesaid; third, the amount of capital, stating the portion of the same invested in securities, and the nature of the securities. D. Sec. 1874. Sec. 729. Every person acting as agent of an insurance com by the agent companies Penalty for Report to be pany not incorporated by the laws of this State, and doing fire, made annually marine or river insurance within the city of New Orleans, shall, of insuranchot during the month of January of each year; cause a full stateincorporated. ment, under oath, of the business of the agency, to be published in the manner and form and for the term, as specified in the preceding section; and for the neglect or refusal so to do, shall forfeit and pay into the city treasury the sum of one thousand neglect or re dollars for each and every neglect or refusal. Whenever the parent or principal office of the agency shall publish an annual statement of its affairs, the time mentioned in the first part of this section for the publication of the affairs of the agency, shall be so far changed as to correspond with the annual statement of the insurance company, and shall then be published as aforesaid, within one month from the date of the publication. fusal to make the report. by foreign in panies. D. Sec. 1875. Sec. 730. Each incorporated insurance company and agency Tax to be paid of any foreign insurance company in the city of New Orleans surance com- shall be taxed five hundred dollars per annum; said tax to be collected by the State tax collector for the parish of Orleans, and as soon as collected it shall be paid into the city treasury, collecting such to the credit of the fire department, to be divided equally between the different fire, hose and hook and ladder companies, in such manner as may be determined by a majority of the firemen of said companies. Manner of tax. Corporation forfeited, how district attor D. Sec. 3343. Sec. 731. Whenever the charter of any corporation in this charter, when State shall be decreed forfeited by any competent court, the disproceeded trict attorney of the district shall forthwith inform the governor against. of the fact, who shall thereupon appoint a liquidator to take The duty of the charge of and liquidate the affairs of the corporation, as in case ney and of the of insolvencies of individuals. In case of death, resignation or governor. removal of any liquidator so appointed, the governor shall fill Vacancies, by the vacancy; and in case of refusal of any person appointed to act as liquidator, he shall appoint the district attorney of the district, who shall be dispensed with giving bond and security. This section shall not apply to banking or other corporations whose liquidation is otherwise provided for by law. whom filled. Who may be appointed quidator. Proviso. Licenses. Property of corporations. C. C. 447 (438); D. Sec. 683, 1612, 1781. Sec. 732. There shall be levied and collected an annual amount as a license, from each insurance company, whether incorporated or not by the laws of this State, and transacting an insurance business herein, from each banking company or agency, unless exempted by their charter, one thousand dollars. D. Sec. 1881, 3232, 3233. Act 1869, p. 146. Sec. 733. The property, real or personal, of all incorporated companies liable to taxation, except capital stock, shall be assessed in the parish in which it may be, in the same manner as that of individuals. D. Sec. 2634, 3250, 3254. of corpora Sec. 734. The capital stock, not invested in real estate, of Capital stock every incorporated company, liable to taxation, shall be assessed tons. in the parish where the principal office or place for transacting the financial concerns of the company shall be, or if the company have no such office, then in the parish where the operations of the company shall be carried on, or its agents shall keep their place of business. D. Sec. 2635, 3255. rations. Sec. 735. When the company is not incorporated in this State, but is doing business through an agent, it shall be subject Foreign corpoto all the provisions of preceding sections, except that it shall not be assessed on its capital stock, but shall be assessed on all its property owned, held or due in this State, whether it consists in real or personal estate, money, bills of exchange, bonds, notes or accounts, or other evidences of debt. D. Sec. 3256. corporation. Sec. 736. The president, cashier, secretary, or agent of any money or stock corporation, whether incorporated by this State Statement by or any of the United States, or by a foreign government, shall, on or before the first day of March in each year, make and deliver to the State collectors or assessors, or one of them, of the parish or district in which such company is liable to be taxed, according to law, a written statement, specifying under oath: First. The real estate, if any, owned by such company, when Real estate. the same is situated in this State; Second.-The capital stock actually paid in and not invested capital stock. in real estate; Third. The place of its principal business, or where its prin- Place of principal operations are carried on in which it is liable to be taxed, cipal business. D. Sec. 8268. assessment Sec. 737. The State collector or assessor shall enter all incorporated companies, from which such statements shall have Entry of corbeen received by them, and the property of such companies, in portions on the assessment roll in the following manner: In the first column rolls. they shall enter the name of the company liable to taxation on its capital or otherwise; in the second column, the quantity of real estate owned by the company and situated in their parish or district; in the third column, the actual value thereof, estimated as in other cases; in the fourth column, its capital stock paid in and its value, (to be ascertained by the assessor or State collector, by the sales of its stock, or in any other manner, and not invested in real estate, situated within the State, and then belonging to it); in the fifth column, they shall put the aggregate value for which the company is liable to be taxed, which value, thus ascertained, shall be levied, except as is provided by law. D. Sec. 3269. Sec. 738. All licenses and taxes assessed by law on the property of any person, firm, company or corporation, are hereby de- Taxes a lien. Incorporation of associations clared a lien and privilege on the real property of such person, firm, company or corporation for his or their entire tax, any alienation thereof or incumbrance thereon notwithstanding; and shall exist in favor of the State and parish for the amount of taxes assessed, and shall be paid by preference to all mortgages and incumbrances. D. Sec. 2894, 3270. Sec. 739. Any association formed for the purpose of promotfor promoting ing the love and practice of the fine arts, may be incorporated practice of fine under the general laws of this State. the love and arts. to establish D. Sec. 677. Act 1857, p. 268. DOMICILE OF CORPORATIONS. Sec. 740. Every corporation organized, or which may hereCorporations after be organized under and by virtue of any law of this State, their domicile shall establish its domicile at some place within the State of in Louisiana. Louisiana, and not elsewhere. Meetings, elections, etc.. the place of domicile, under pain of nullity. C. C. 38 (42); D. Sec. 1205. Act 1857, p. 61. Sec. 741. Every such corporation shall, from and after the passage of this act, hold all its meetings for the transaction of to be held at business appertaining to its corporate purposes or capacity, whether of its stockholders at large, for election of officers, or other purposes, or of its directors, managers, trustees, or other officers charged with the direction of its affairs, at the place of domicile of said corporation, and any such meeting held elsewhere, and any business transacted at any meeting held elsewhere, shall be unlawful and of no effect. ments of un ances, how and surance com Orleans. D. Sec. 1206. CORPORATIONS RECEIVING MONEY ON DEPOSIT OR DECLARING Sec. 742. It shall be the duty of the several banks and the Weekly state- various insurance companies, incorporated in this State, on the claimed and first Monday of January next, and annually thereafter, to cause unsettled bal to be published in some newspaper printed in the city of New when to be Orleans, once a week, for four weeks in succession, a list of the published by banks and in- names of all parties who may have in such institution any unpanies in New claimed or uncalled for sum of money, specifying the amount thereof, beginning from the several dates of their incorporation, where the same are of three years' standing, or more, at the time of such publications, whether the same arise from deposits, dividends, interest scrip, or result from the non-payment of any drafts, bills of exchange, certificates of deposit, or otherwise, drawn in favor of such person or persons, and not subsequently paid by such institution, or as in the case of certificates of scrip not subsequently paid or delivered, to the owner thereof; also, all interest on scrip due and unpaid for more than three years since the same became demandable; and generally all indebtedness of such institutions, in any manner whatever, of more than three years' standing, or where the evidence of the fact or of the indebtedness is exclusively in possession of such institutions. D. Sec. 303, 1877. Act 1859, p. 142. tion to be porated insti Sec. 743. The said duty of publication, according to the provisions of the preceding section, is hereby imposed upon all in- Same publicacorporated institutions of this State, receiving deposit or declaring made by incordividends on money, scrip, or other evidences of indebtedness; tutions receivand the same shall be verified by the affidavits annexed thereto, ing deposits or declaring diviof the president and cashier, where they are made by a bank, dends. and of the president and secretary, when made by an insurance company. D. Sec. 1878. publication omitting to Sec. 744. Each and every omission to advertise in accordance omission to with the provisions of this act, shall subject the corporation so make said offending, to a fine of one thousand dollars, recoverable before subjects the any court of competent jurisdiction, at the domicile where such corporation so corporation is established, in the name of, and for the benefit of fine. the charity hospital of New Orleans; Provided, The publica- Proviso. tion herein directed is only required when the sum exceeds ten dollars. D. Sec. 1879. Provisions of Sec. 745. This act shall not apply to the incorporated savings act not to banks of the State. D. Sec. 1880. RELATIVE TO INSTITUTIONS AND ORGANIZED COMPANIES RE- apply to incorporated savings banks of this State. tutions, com receiving ap from the State. Sec. 746. Those institutions, organized companies and associations, for whose benefit appropriations in money have been or Duty of instimay hereafter be made by this State, shall on or before the first panies and Monday of January of each year, report to the auditor of the associations State a full and complete statement of their condition, exhibiting propriations the kind and character of their property, and the revenue arising therefrom, the names of the officers attached to the institution, number of children, their ages, sex, place of nativity and date of admission, how instructed, whether a student in mechanics or trades, the disposition of the funds appropriated by the State, and the purposes for which any additional suis may be required. Act 1857, p. 243. 15 |