77-5-211 - Execution and filing of certificate of incorporation.
§ 77-5-211. Execution and filing of certificate of incorporation.
The natural persons executing the certificate of incorporation shall be residents of the territory in which the principal operations of the corporation are to be conducted, who are desirous of using electric energy to be furnished by the corporation. The certificate of incorporation shall be acknowledged by the subscribers before any officer authorized to take acknowledgments to deeds or other instruments. When so acknowledged, the certificates may be filed with the secretary of state at any time thereafter within six months of the date of the last acknowledgment. The secretary of state, upon receipt of such instrument, shall indorse upon it the following:
"Received at the office of the secretary of state this the ________ day of ________, A. D. ________, together with the sum of $ ________ deposited to cover the recording fee, and referred to the attorney-general for his opinion.
Signed ______________
Secretary of State"
The attorney-general shall examine the same and indorse his opinion thereon as follows:
"I have examined this charter of incorporation and am of the opinion that it ________ the Constitution and laws of this state, or of the United States.
Signed ______________
Attorney-General"
The attorney-general shall without delay refer the same to the governor for his approval or disapproval. The governor shall return it to the secretary of state with his action indorsed thereon. If he approves it, the secretary of state shall record it in the record kept in his office for that purpose, and certify to the same under the great seal of this state, and transmit it to the applicants. If the governor disapproves it, the secretary of state shall file it in his office and notify the applicants of the disapproval and state the reasons therefor. If within thirty (30) days after the secretary of state has mailed the said notice they have not amended it so as to meet the approval of the governor, the secretary of state shall return the fee to the applicants, less the sum of three dollars ($3.00), which shall be paid into the state treasury for "charters examined, disallowed and filed." The powers specified in the charter shall, by the approval of the charter, be vested in the corporation and it shall go into operation without further formalities.
Sources: Codes, 1942, § 5468; Laws, 1936, ch. 184.