the expense of the county of which you are superintendent of day of 190.. When and by whom served. Neglect to transport charge. County may recover expense. In case of refusal to allow bill. Proviso. Superintendent of the poor of County. SEC. 3. The notice mentioned in the last section shall be served by the superintendents of the poor of the county of which said poor person may temporarily be by one of their number, or by some agent or attorney or other officer acting in behalf of such superintendents, within ten days after ascertaining the place where said poor person was last continuously settled for one year within two years previous thereto. And if after receiving such notice the superintendents of the poor of the county properly chargeable with the support of such person shall neglect for twenty days to transport such person to the county in which such poor person was last continuously settled one year within two years previous thereto and there maintain him (or her,) the county of his settlement so chargeable shall be liable for his maintenance and support while he shall remain in the county where found. And the county advancing such expense may recover the same from the county chargeable if payment is refused or failed to be made within twenty days after the claim for the care and relief of such person, showing the items of the expense thereof incurred by the county in which such poor person was temporarily or permanently relieved and maintained, has been presented to the superintendents of the poor of said county by an action at law in the circuit court in the county where such expense was incurred, and service of process may be made upon the chairman of the board of supervisors or the county clerk of the county chargeable, and such county may be sued in an action of assumpsit to recover the amount so due. And if the superintendents of the poor of the county chargeable shall fail to allow any bill for relief properly presented or submitted to them by the superintendents of the poor of the county in which such poor person may have received relief for thirty days, such failure shall be deemed equivalent to a refusal on the part of the superintendents of the poor to allow the bill, and an action may be commenced forthwith thereafterwards as aforesaid: Provided, That in those counties where the distinction between county and township poor exists the amount thus expended in any case where such poor person has a settlement in any township in the county may be charged up to and recovered from such township by the superintendents of the poor for the county in which said township is situated who have been required under the provisions of this act to audit and allow the ac count for temporary relief and care of such poor persons. paid when per SEC. 5. If any such person belongs to another state and Expense, how has come from outside of the State, the superintendents of son from out the poor of the county, or the medical superintendent of the of state. asylum where such person may be, shall furnish transportation and necessary attendance in their discretion to such person, and the expense of the same shall be allowed by the State Board of Auditors and paid by the State on properly attested vouchers from the said superintendents of the poor or medical superintendent. SEC. 6. All acts or parts of acts contrary to the provisions Repealing of this act are hereby repealed. This act is ordered to take immediate effect. clause. [No. 60.] AN ACT to provide for the regulation in this State of foreign tontine, bond, certificate and investment companies, partnerships and associations, other than life insurance companies and building and loan associations, prescribing the terms and conditions upon which such companies, partnerships and associations shall be permitted to do business in this State. The People of the State of Michigan enact: SECTION 1. Every foreign corporation, partnership and asso- Provisions to ciation, other than life insurance companies and building and apply. loan associations, that places or sells certificates, bonds, debentures, tontine contracts, or other investment securities of any kind or description, on the partial payment or installment plan, shall, as a condition precedent to transacting business in this State, comply with the following provisions: First, It shall file with the Secretary of State a certified To file articles. copy of its charter or articles of incorporation or agreement, a copy of its by-laws and rules governing it. together with a sworn statement of its financial condition; relative to process. Second, It shall file with the Secretary of State a written Agreement instrument properly executed, agreeing that any summons or process of any court in this State may issue against it from any county in this State, and when served upon the Secretary of State, shall be accepted irrevocably as a valid service upon such foreign corporation, partnership or association: Pro- Proviso. vided, however, That the Secretary of State shall mail a copy of any such legal process served upon him to the home office of such foreign corporation, partnership or association. The plaintiff shall for each process so served pay to the Secretary of State, at the time of such service, a fee of ten dollars, which With whom to make deposit. How held. May use interest. deposits in other states. shall be recovered by the plaintiff as a part of the taxable costs if he prevail in the suit; Third, It shall deposit with the Secretary of State one hundred thousand dollars, either in cash or bonds of the United States, or bonds of any State in the United States, or bonds of any county or municipal corporation in the State of Michigan, or any other securities which shall be approved by the Secretary of State. Said deposit shall be held as security for all claims of residents of this State against such foreign corporation, partnership or association, and shall be liable for all judgments or decrees thereon; and said securities shall not be released until all contracts and obligations to residents of this State shall have been fully performed and discharged. Such foreign corporation. partnership or association may collect and use the interest on any securities so deposited, so long as it fulfills its obligations and complies with the provisions of this act. It may also exchange them for other securities of Proviso as to equal value, if satisfactory to the Secretary of State: Provided, That when, by the laws of any other state, such tontine, bond, certificate and investment companies, organized or doing business therein, are required to keep on deposit with the State Treasurer of that State, or other State officer, securities for the protection of all investors, and any such company shall furnish the Secretary of State the certificate of the proper officer of such other State, showing the amount and character of the securities so deposited with him, and if it shall appear therefrom that the said securities are equal in market value and availability to one hundred thousand dollars, the Secretary of State shall thereupon be authorized to issue to such company a certificate of authority to transact business within this State without any such deposit of securities required as a condition precedent to transacting business within this State: Provided further, however, That any such company so authorized shall, on or before the tenth day of January of each year, deposit with the Secretary of State of this State an amount equal to twenty per cent of the gross receipts on the amount of business done by it in the State of Michigan for the year next preceding the thirty-first day of December, until the total amount of said deposit shall amount to one hundred thousand dollars, at which amount it shall thereafter be maintained. Said deposit shall be either in cash or approved securities herein before named, which deposit shall be subject to the same provisions of this act as a deposit made as a condition precedent to transacting business in this State, herein provided. Further proviso. Who responsible for deposits. SEC 2. All such securities deposited with the Secretary of State shall be immediately deposited by him with the State Treasurer, who, with his sureties, shall be responsible for the safe keeping thereof. The State Treasurer shall deliver such securities only upon the written order of the Secretary of State. certificate of SEC. 3. Whenever such foreign corporation, partnership When to issue or association has complied with the provisions of this act, and authority. the Secretary of State is satisfied that it is in sound financial condition, and upon payment by such foreign corporation, partnership or association of a franchise fee such as is required to be paid by corporations organized under the laws of this State, the Secretary of State shall issue his certificate of authority to such foreign corporation, partnership or association to do business in this State. Annually thereafter, upon the filing of Renewal the annual statement herein provided for, and if the Secretary of State shall be satisfied that such foreign corporation, partnership or association is conducting its business in accordance with the laws of this State, and shall regard it as safe, reliable and entitled to public confidence, he shall issue a renewal of such certificate of authority. ties may be SEC. 4. If at any time any resident of this State shall When securirecover judgment against such foreign corporation, partnership sold. or association, and which after thirty days shall not have been satisfied, the State Treasurer, upon an order from the Secretary of State, shall proceed to sell, at the current market value, sufficient of the securities deposited with him, to satisfy the amount of such judgment, together with one per cent for his services and expenses: Provided, That before ordering the Proviso. State Treasurer to dispose of such securities as aforesaid, the Secretary of State shall be served with an affidavit by the plaintiff or his attorney setting forth the recovery of judgment, and that the same has remained unpaid for thirty days, and that no proceedings are pending for the review or reversal of the same: Provided further, That such foreign corporation, Further partnership or association, after notice of the service of such affidavit, shall not transact any new business in this State until any deficiency of securities, caused by the necessity of satisfy ing such judgments, shall have been made good by further deposit of similar securities with the Secretary of State. proviso. nual report. SEC. 5. Every such foreign corporation, partnership or To make anassociation doing business within this State shall, on the first day of January of each year, or within thirty days thereafter, file with the Secretary of State a full and detailed statement of its financial condition on the thirty-first day of the preceding December, and of the business transacted during the preceding year. Said statement shall contain such information, and be in such form as the Secretary of State may prescribe, and shall be subscribed and sworn to by the president and secretary, or other managing officer. ination. SEC. 6. Once in each year, or oftener, if in the opinion Annual examof the Secretary of State it shall be necessary, the Secretary of State shall make, or cause to be made, an examination into the affairs of every such foreign corporation, partnership or association doing business in this State. Such examination Powers of shall be full and complete, and in making the same the exam- examiner. iner shall have full access to, and may compel the production of all books, papers and moneys, etc., of the corporation, part cate to be revoked. nership or association under examination, and may administer oaths to and examine officers of such corporation, partnership or association, or any other person connected therewith, as to When certifi- its business and affairs. If, upon such examination, it shall appear that such corporation, partnership or association does not conduct its business in accordance with law, or that its affairs are in an unsound condition, or if such foreign corporation, partnership or association refuses such examination to be. made, the Secretary of State may revoke its certificate of authority to do business in this State: Provided, That upon the revocation of said certificate of authority, the Secretary of State shall mail a notice thereof to the home office of such foreign corporation, partnership or association, and cause a similar notice to be published in at least one newspaper published in the City of Lansing. Proviso. Penalty for unlawfully transacting business. Fees corporation to pay. Application of act. SEC. 7. Any officer, agent or representative of any such corporation, partnership or association, who shall attempt to place or sell any certificates, debentures, tontine contracts or other investment securities, or transact any business whatsoever in the name or on behalf of any such corporation, partnership or association not authorized to do business in this State, or which has failed or refused to comply with the provisions of this act, shall be deemed guilty of a misdemeanor, and on conviction thereof shall be punished by a fine of not less than one hundred dollars nor more than five hundred dollars for each offense, and in default of payment of such fine shall be impris oned for a period not to exceed one year, or he may be punished by imprisonment for a period of not less than three months nor more than one year, or by both such fine and imprisonment, in the discretion of the court. SEC. 8. All such foreign corporations, partnerships or associations authorized to transact business in this State shall be subject to and shall pay to the Secretary of State the following fees, which fees shall be paid into the State Treasury, to wit: For filing certified copy of articles of association, bylaws, annual statements or any other papers, one dollar; for each certificate of authority and annual renewal of same, five dollars; for making certified copy of any of the papers above mentioned, twenty cents per folio of one hundred words; for making the examinations herein provided for, the sum of ten dollars per day and necessary expenses for the actual time employed in making such examinations; also the franchise fee hereinbefore described. SEC. 9. Every foreign corporation admitted to do business within this State, under the provisions of chapter number one hundred sixty-three of the Compiled Laws of eighteen hundred ninety-seven, and all other foreign corporations, partnerships and associations, other than life insurance companies and building and loan associations, at present transacting, within this State, the business designated in section one of this act, shall be subject to all the provisions of this act, and shall, |