Any association which shall not commence business within six months after the date upon which its corporate existence begins shall forfeit its corporate existence, unless the director of the division of finance, before the expiration of such six months’ period, has approved an extension of time within which it may commence business, upon a written application stating the reasons for the delay. Upon such forfeiture all action taken in connection with the incorporation of the association except the payment of the incorporation fee shall become void. Amounts paid on accounts and on the expense fund of a mutual association and amounts paid on stock subscriptions of a capital stock association, less proper expenditures, shall be returned pro rata to the owners thereof. A certificate reciting the forfeiture shall be delivered by the director of the division of finance to the secretary of state.