4293e. Penalty for failure to make report.-5. The secretary or other appointed officer of any corporation organized under this act shall within the fifteen (15) days aforesaid, by written or printed demand signed by him, require from every such insurance company, corporation, organization, underwriter, person or persons engaged in the business of fire insurance in the municipality or other subdivision of the state where said corporation is organized and established, the statement hereinbefore provided for. Such demand may be delivered personally to or by registered mail at the office of such insurance company, corporation, association, underwriter, person or persons within such municipality or other subdivision, as hereinbefore provided, or at the residence of any officer of such insurance company, corporation, association, underwriter, person or persons. Any insurance company, corporation or association, or any officer thereof, and any underwriter, person or persons within the municipality or other subdivision in which the said corporation is organized and established, engaged in the business of fire insurance, or of assuming risks and accepting premiums for fire insurance, who fails to comply with the provisions of this act by furnishing the statement herein provided for, shall forfeit for the use of the corporation herein provided the sum of twenty-five dollars ($25) for every day he shall so neglect to furnish the same, which amount may be recovered by the corporation in any court in the state having jurisdiction thereof. 4294. Street and interurban railroads.

Under this section and section 4296, the record of street improvement proceedings, assessments, and issuance of bonds payable to the contractor or bearer, charge the purchaser of assessed property with notice of such facts. National Exchange Bank of Anderson v. Smith, 63 App. 574, 114 N. E. 881.

4295. Deposit and loan companies.

Where a contractor, after making assignment of street improvement bonds, by falsely representing that he still owned the bonds, procured an owner of real estate assessed therefor to make a conveyance to him in payment of the assessment, it was held that the assessment lien was not merged in his title. National Exchange Bank of Anderson v. Smith, 63 App. 574, 114 N. E. 881.

In order to discharge a street assessment lien against a particular tract of real estate, there must be payment in full of the assessment against it to the person lawfully entitled to receive the same. National Exchange Bank of Anderson v. Smith, 63 App. 574, 114 N. E. 881.

[Acts 1919, p. 429. In force May 15, 1919.]

4309. Titles and abstracts.-18. To organize companies for the purpose of carrying on the business of insuring titles to real estate, and to make abstracts, loans and collections in connection therewith,

and to buy, own, hold and sell real estate and collect rents thereon, in the manner to be fully stated in such articles, or for the purpose of making abstracts, loans and collections.

This section amends section 4309 Revision of 1914.

[Acts 1919, p. 694. In force March 14, 1919.]

4313. Buying securities, loans.-22. To organize companies for the purpose of buying and selling state, county, municipal and all other bonds, of borrowing and loaning money, of buying and selling promissory notes, bills of exchange, accounts, choses in action, fees and all other evidence of indebtedness, and of buying, holding, owning, mortgaging, leasing and selling real estate and personal property; any such association which has been or may hereafter be organized for the foregoing purposes, having capital stock of one million dollars, or more, fully paid, shall also have power to accept for payment, at a future date, drafts and bills drawn upon it and to issue letters of credit authorizing the holders thereof to draw drafts and bills upon it or its correspondents at sight or on time not exceeding one (1) year, and to engage in the business of granting bankers' acceptance credits; all in the manner and on a plan fully stated in such articles. Such associations shall not be authorized to do a general banking or trust business.

This section amends section 4313 Revision of 1914.

Examination of applicant. 4359y. Agents, registration, fee.. 4359z.

Foreign and domestic invest-
ment companies defined.

4359a1. License to dealers and sales-
men, cancellation, fees.

4359b1. Securities exempted.

4359c1. Securities excluded in the application of the act.

SEC.

4359d1. Construction of the act.
4359e1. Penalty for violation of this
act.

4359f1. Advertisements to bear a serial
number.

4359g1. Securities commission, administrator, powers and duties.

4359h1. Securities defined.

435911. Sale defined.

4359j1. Public records.

4359k1. False statements, penalty.

435911. Void sales.

4359m1. Intangible assets, stocks in

escrow.

4359n1. Price and amount of securities sold-Licenses.

435901. Prosecutions.

4359p1. Validity of the act.

[Acts 1921, p. 240. In force March 9, 1921.]

4359r. Sale of securities, application to sell or invest, fee.-1. Every person, firm, corporation or association and every association

organized or existing under the common law, who shall, as issuer, undertake, by advertisement, circular, prospectus, or through dealers, salesmen or agents, or by any other form of public, or general offering (including any kind of successive or continued transactions of a similar nature) the sale of any securities in this state, not hereinafter excepted, shall, prior to such undertaking, file with the secretary of state together with a filing fee, in the amount as hereinafter prescribed in this act, information, in such form as may be required by the secretary of state, setting forth the following facts and such other facts as may be required by the secretary of state to be filed: A. The names and addresses of the directors, trustees and officers, if such applicant be a corporation or association, or an association organized or existing under the common law, of all partners, if the applicant be a partnership, and of the person, if the applicant be an individual, together with the names and addresses of all agents, of such applicant, assistant, or who are to assist, in the sale or disposal of its securities, and the nature of the interest of each.

B. The location of the applicant's principal office and of his principal office in the state, if any.

C. The general character of the business of the applicant, and a statement of the class or classes of property proposed to be dealt in, and the purpose of the proposed issue.

D. An itemized account of the financial condition and the capital stock of the applicant; a balance sheet showing the amount and character of its assets and liabilities on a day not more than thirty (30) days prior to the date of filing such balance sheet; a detailed statement of the plan upon which the applicant proposes to transact business; the approximate price at which the applicant proposes to dispose of such securities; a copy of any security the applicant proposes to issue, sell or offer for sale; and a copy of any prospectus or advertisement or other description of such securities, then prepared by or for such applicant for distribution or publication in this state.

E. A statement of the amount of the applicant's income, expenses, and fixed charges during the last fiscal year, if engaged in business that length of time, otherwise as hereinafter provided.

F. A statement showing the amount of commission to be paid in cash or otherwise for the sale of such securities.

G. A detailed statement showing the items of cash, property, services, patents, good will and any other consideration for which such securities have been or are to be issued in payment.

H. The amount of capital stock which is to be set aside and disposed of as promotion stock, and a statement from time to time of all stock issued as promotion stock.

I. If the applicant is a partnership or any incorporated association, or joint stock company, or any other form of business whatsoever, it shall file with its application a copy of its articles of partnership or association, and all other papers pertaining to its organization, if not already on file in the office of the secretary of state. If the applicant is a trustee it shall file with its application a copy of all instruments by which the trust is created and in which it is accepted, acknowledged or declared. If the applicant is a corporation, it shall file with its application a copy of its articles of incorporation and of its by-laws and of any amendments thereto if not already on file in the office of the secretary of state.

If the applicant is a corporation or association organized under the laws of any other state, territory or government, it shall also file with its application a certificate, or certified copy of the charter, executed by the proper officer of such state, territory or government, not more than thirty (30) days before the filing of such application, showing that such applicant is authorized to transact business in such state, territory or government.

Every foreign investment company, before offering for sale any of its stock, bonds or other securities in this state, shall also file its irrevocable written consent that suits and actions, growing out of the violation of any provision or provisions of this act, may be commenced against it in the proper court of any county in this state in which a cause of action may arise or in which the plaintiff may reside, by the service of any process or pleading authorized by the laws of this state, on the secretary of state of the State of Indiana, said consent stipulating and agreeing that such service of such process or pleadings on such secretary of state shall be taken and held in all courts to be as valid and binding as if due service had been made upon the company itself and said instrument containing such consent shall be authenticated by the seal of said foreign investment company, and by the acknowledged signature of a member of the copartnership or company, if it be a co-partnership or company, or by the acknowledged signature of the president and secretary of the incorporated or unincorporated association, if it be an incorporated or unincorporated association, and shall in such case be accompanied by a duly certified copy of the resolution of the board of directors, trustees or managers of the corporation or association, authorizing the secretary and president to execute the same. In case any process or pleadings mentioned in this act are served upon the secretary of state of the State of Indiana, it shall be by duplicate copies, one of which shall be filed in the office of the secretary of state of the State of Indiana and another immediately forwarded by regis

tered mail to the head office of the person or co-partnership, association or corporation against which said process or pleadings are directed.

All of the evidence, exhibits and papers of every kind required by this section, except properly certified public documents, shall be verified by the oath of the applicant in such manner and form as may be required by the secretary of state.

At the time of filing the information, as hereinbefore prescribed in this section, the applicant shall pay to the secretary of state a fee of one-twentieth of one per cent (1/20 of 1%) of the amount of the securities to be offered for sale in this state, and for the sale of which the applicant is seeking to obtain a certificate, but in no case shall such fee be less than twenty-five dollars ($25) or more than two hundred dollars ($200).

This section amends section 1, Acts 1920, p. 83.

[Acts July special session 1920, p. 83. In force November 13, 1920.] 4359s. Domestic and foreign dealers.-2. This act shall apply with equal force to domestic investment companies, foreign investment companies, and dealers, all of which are hereinafter defined.

[Acts 1921, p. 240. In force March 9, 1921.]

4359t. Corporations of same name.-3. No certificate shall be issued to any applicant under the provisions of this act of the same name as any corporation organized under the laws of the State of Indiana or licensed to do business in this state under the foreign corporation law, without the consent of such corporation.

This section amends section 3, Acts 1920, p. 83.

[Acts July special session 1920, p. 83. In force November 13, 1920.] 4359u. Form of certificate.-4. Upon the fulfillment of the requirements of this act by any applicant for a certificate hereunder, the secretary of state shall issue a certificate under the provisions of this act to such applicant to sell securities in this state, which certificate shall be substantially in the following form:

This is to certify that

has this day filed in the office of the secretary of state detailed information in regard to its corporate and financial affairs for public inspection and information as provided by law. This certificate relates to issue of securities of the date of

The secretary of state makes no recommendation relative to the purchase of any security offered for sale by any company.

Dated at Indianapolis, Indiana, this

day of