"An Act to regulate the admission of foreign corporations for profit to do busniess in the State," approved May 18, 1905, and in force July 1, 1905; Sections 1, 2, 3, 4, 5, 6, 8 and 9 of "An Act requiring corporations to make annual reports to the Secretary of State and providing for cancellation of articles of incorporation for failure to do so, and to repeal a certain Act therein named," approved May 10, 1901, and in force July 1, 1901; "An Act regarding fees for the incorporation and increase of capital stock of companies and corporations in this State," approved June 15, 1895, and in force July 1, 1895; "An Act to provide for the incorporation of associations for the purpose of owning certain classes of real estate and defining and limiting the powers of such corporations", approved June 29, 1917, and in force July 1, 1917; "An Act to provide for the incorporation of co-operative associations for pecuniary profit," approved May 31, 1887, in force July 1, 1887; “An Act authorizing the extending of the term of duration in certain cases," approved June 9, 1911, in force July 1, 1911. APPROVED June 11, 1921. FOR PECUNIARY PROFIT. § 1. Amends sectoins 6 and 11, Act of 1919. § 6. Powers. § 11. Real estate holdings-rules. (SENATE BILL NO. 38. APPROVED JUNE 24, 1921.) AN ACT to amend sections 6 and 11 of "An Act in relation to corporations for pecuniary profit,” approved June 28, 1919, in force July 1, 1919. SECTION 1. Be it enacted by the People of the State of Illinois, represented in the General Assembly: Sections 6 and 11 of "An Act in relation to corporations for pecuniary profit approved June 28, 1919, in force July 1, 1919, are amended to read as follows: § 6. Each corporation organized under this Act shall, subject to the conditions and limitations prescribed by this Act, have the following powers, rights and privileges: (1) To have succession by its corporate name for the period limited in its certificate of incorporation, or any amendment thereof; (2) To sue and be sued in its corporate name; ure; (3) To have and use a common seal and alter the same at pleas (4) To have a capital stock of such an amount, and divided into shares with a par value, or without a par value, and to divide such capital stock into such classes, with such preferences, rights, values and interests as may be provided in the articles of incorporation, or any amendment thereof; (5) To acquire, and to own, possess and enjoy so much real and personal property as may be necessary for the transaction of the business of such corporation, and to lease, mortgage, pledge, sell, convey or transfer the same; and to acquire and to own real property, improved or unimproved for the purpose of providing homes for its employes or aiding its employes to acquire and own homes and to improve, lease. mortgage, contract to sell, sell, convey or transfer the same, and to loan money to its employes for such purpose upon such terms as may be agreed upon. (6) To own, purchase or otherwise acquire, whether in exchange for the issuance of its own stock, bonds, or other obligations or other wise, and to hold, vote, pledge, or dispose of the stocks, bonds, and other evidences of indebtedness of any corporation, domestic or foreign: (7) To borrow money at such rate of interest as the corporation may determine without regard to or restrictions under any usury law of this State and to mortgage or pledge its property, both real and personal, to secure the payment thereof; (8) To elect officers, appoint agents, define their duties and fix their compensation; (9) To lease, exchange or sell all of the corporate assets with the consent of two-thirds of all of the outstanding capital stock of the corporation at any annual meeting or at any special meeting called for that purpose; (10) To make by-laws not inconsistent with the laws of this State for the administration of the business and interests of such corporation; (11) To conduct business in this State, other states, the District of Columbia, the territories, possessions, and dependencies of the United States and in foreign countries and to have one or more offices out of this State, and to hold, purchase, mortgage, and convey real and personal property outside of this State necessary and requisite to carry out the object of the corporation; (12) In time of war to transact any lawful business in aid of the United States in the prosecution of war, to make donations to associations and organizations aiding in war activities and to loan money to the State or Federal government for war purposes; (13) To cease doing business and to surrender its charter; (14) To have and exercise al! the powers necessary and convenient to carry into effect the purpose for which such corporation is formed. § 11. No corporation shall own any real property acquired for the purpose of providing homes for its employees or aiding its employees to acquire and own homes, if unimproved for a greater period than five years, or if improved for a greater period than fifteen years and no real estate improvement corporations shall hold any lot unimproved for a greater period than five years or any improved lot for a greater period than fifteen years. No lot shall be considered improved unless there is upon it a building or buildings of double the value of such lot. No corporation shall own, possess or hold title to any unimproved lots or lands acquired for the purpose of providing homes for its employees or aiding its employees to acquire and own homes in excess of forty acres and no real estate improvement corporation shall own, possess or hold title to unimproved lots or lands in excess of forty acres. Where any corporation has made a bona fide contract to sell any lots or lands, it shall not, while such contract is in force, be considered to own, possess or hold title to such lots or lands, contrary to the provisions of this section. APPROVED June 24, 1921. FOR PECUNIARY PROFIT. 1. Amends section 18, Act of 1919. 18. Directors-meetings-clas sification-term. (SENATE BILL No. 249. APPROVED JUNE 24, 1921.) AN ACT to amend an Act entitled, "An Act in relation to corporations for pecuniary profit," approved June 28, 1919. SECTION 1. Be it enacted by the People of the State of Illinois, represented in the General Assembly: That section 18 of an Act entitled, "An Act in relation to corporations for pecuniary profit," approved June 28, 1919, be amended so as to read as follows: $18. The directors named in the certificate of incorporation shall hold office until the first annual meeting of the stockholders. At such annual meeting and at each annual meeting thereafter, the stockholders shall, except as hereinafter provided, elect directors for a term of one year. When the board of directors consists of nine or more members, in lieu of electing the whole number of directors annually, the stockholders may divide the board of directors into three classes numbered consecutively, the term of office of the first class to expire on the day of the annual election of such corporation then next ensuing, that of the second class one year thereafter, and that of the third class two years thereafter. No class shall consist of less than three. At each annual election after such classification, the number of directors equal to the number of the class whose term expires on the day of such election shall be elected for a term of three years. Each director shall hold his office for the term for which he is elected, and until his successor is elected and qualified. APPROVED June 24, 1921. FOR PECUNIARY PROFIT CERTIFICATE OF STOCK. § 1. Amends section 29, Act of 1919. § 29. Stockholder to have certifi- (HOUSE BILL No. 446. APPROVED JUNE 27, 1921.) AN ACT to amend section 29 of an Act entitled "An Act in relation to corporations for pecuniary profit," approved June 28, 1919, in force July 1, 1919. SECTION 1. Be it enacted by the People of the State of Illinois, represented in the General Assembly: That section 29 of an Act entitled "An Act in relation to corporations for pecuniary profit," approved June 28, 1919, in force July 1, 1919, be and the same is hereby amended to read as follows: § 29. Each stockholder shall be entitled to a certificate of stock. executed by such officers as the by-laws may prescribe, certifying the number of shares owned by him in such corporation: Provided, that no corporation, nor its transfer agent or registrar of stock shall be bound to see to the execution of any trust with respect to its shares of stock, or be bound to ascertain or inquire whether or not any transfer of its shares of stock is authorized under any trust. APPROVED June 27, 1921. FOR PECUNIARY PROFIT ORGANIZATION. § 1. Amends section 3, Act of 1919. § 3. Specific purposes for which corporations may be organ- (HOUSE BILL No. 245. APPROVED JUNE 29, 1921.) AN ACT to amend section 3 of "An Act in relation to corporations for pecuniary profit," approved June 28, 1919, in force July 1. 1919. SECTION 1. Be it enacted by the People of the State of Illinois, represented in the General Assembly: That section 3 of "An Act in relation to corporations for pecuniary profit," approved June 28, 1919, in force July 1, 1919, is amended to read as follows: § 3. Corporations may be organized hereunder for any one uf the following purposes: "Building corporations," for acquiring, owning, erecting, leasing or operating only one building and the site therefor; "Agency and loan corporations," for the purpose of acting as agents for others in the purchase, sale, renting and management of real estate and leasehold interests in the operation of an insurance agency business, in the negotiation of loans on real estate and leasehold interests, and for the purpose of lending money on bonds or notes secured by mortgages or trust deeds on real estate or leaseholds or on the mortgage bonds of industrial or railroad companies or of any public service corporation, or on any State, municipal, or quasi-municipal bonds, or for the purpose of buying, selling, pledging, mortgaging or otherwise dealing in any of such securities; and for the purpose of acting as trustee in connection with any of the foregoing securities. "Real estate improvement corporations," for the purpose of owning land, erecting residences thereon, and selling or leasing such land or residences, which land so owned shall be situated only in the county in which its principal office is located. No corporation organized for one of the purposes specified in this section shall have any other object or purpose. APPROVED June 29, 1921. AN ACT to authorize counties to provide a means for the burial of deceased soldiers, sailors and marines, and their mothers, wives and widows. SECTION 1. Be it enacted by the People of the State of Illinois, represented in the General Assembly: The county board of each county in this State shall have the power, subject to the referendum hereinafter provided for, to purchase suitable sites for burial grounds for deceased soldiers, sailors and marines of the army and navy of the United States who died in service and for honorably discharged soldiers, sailors and marines, who served in the army or navy of the United States during the Civil War, the Spanish-American War, the Philippine Insurrection, the Boxer Uprising in China, or the war with Germany, and their mothers, wives or widows, who may die without having sufficient means to purchase a grave and defray funeral expenses; to establish and maintain suitable headquarters, cemetery buildings, and other auxiliary institutions connected with such burial grounds; and to pay the funeral and burial expenses of such persons and to provide suitable headstones for their graves; and shall have the power to levy and collect for such purposes, a tax not exceeding two mills on the dollar ($1.00) annually, on all taxable property within the county, such tax to be levied and collected in like manner as the gereral taxes of the county, and to form, when collected a fund to be known as "soldiers' and sailors' burial fund." This tax shall be in addition to all other taxes which the county is now, or hereafter may be authorized to levy on the aggregate valuation of all property within the county, and the county clerk, in reducing tax levies under the provisions of section 2 of "An Act concerning the levy and extension of taxes," approved May 9, 1901, in force July 1, 1901, as amended, shall not consider the tax for the "soldiers' and sailors' burial fund," authorized by this Act, as a part of the general tax levy for county purposes and shall not include this tax in the limitation of two per cent (2%) of the assessed valuation upon which taxes are required to be .extended. § 2. When one hundred legal voters of any county shall present a petition to the county board of such county, asking that an annual tax may be levied for the establishment and maintenance of a Soldiers' and Sailors' Burial Fund in such county, such county board shall instruct the county clerk to, and the county clerk shall, in the next legal notice of a regular general election in such county, give notice that at such election every elector may vote "For the levy of a tax |