The fees payable at the office of the secretary of state are ten dollars for
fllins and fifteen cents per folio tor recording. At the county clerk's office a
like recording tee is payable.- •

In addition to such payments one-eighth of one per cent upon the amount of
the capital stock must be paid to the state treasurer for the privilege of organ-
ization. I

The foregoing is a form for a company of limited liability. Such corpora-
tions, organizing under this chapter, are not required to use the word " limited "
In the corporate name, as was the case under the Business Corporation Act of
1875 (chapter 611). See Reviser's Note, page 291, ante.
FuLii Liability Cobpoeations.— To form a full liability corporation under
this chapter the introductory portioil should read as follows, to wit:

STATE OF NEW ,TOR^,1 g.
CoxjNTT or . . . -f )

We, the undersigned, a majority of whom are citizens and
residents of this state, desiring to become a full liability cor-
poration, for the purposes hereinafter set forth, pursuant To
the provisions of " The Business Corporation Law," do hereby
certify as follows:

[Here inxert the recitals as in the preceding form.^

§ 3. Restriction upon commencement of business.
No such corporation shall engage in the transaction
or management of the business, which it is incor-
porated to conduct until one-half of its capital stock
shall have been subscribed arid ten per cent thereof
shall have been paid in cash, nor until it shall have
adopted by-laws for the corporation, and shall have
filed in the offices where its certificates of incor-
poration were filed a further certificate, executed

38



298 THE BUSINESS CORPOEA.TION LAW.
