Portage sentinel. [volume] (Ravenna, Ohio) 1845-1854, 1851-05-19
LAWS OF O HIO
PUBLISHED BY AUTHORITY.
mo. 45 ]

To tax Banks and Bank and other Stocks the same
other property is now taxable by uae laws ol
this stale.
Sec. l. Be it enacted By The General
Assembly of the State Of Ohio; That il
shall bo the duty Of the President acd cash.
ier of each and every banking iasli;ution
incorporated BY the laws Of this State, and
having the right TO issue bills or notes for
circulation. at the linae for listing personal
property under tae laws Of this State. TO list
,he capital stock Of such banking Institution,
under oath, OF its true value in money, and
return the same, with the amount Of sur
plus snd contingent fund belonging to such
banking institution, TO the assessor OF the
township or ward in which such banking
institution is located; and The amount so re-
turned, shall be placed on the grand dupli-
cate OF the proper county, and upon the
city duplicate for city ,axes, 10 cases where
such city taxes do not 60 upon the grand
duplicate, but is collected by the city off,
GERS, and taxed for the same purpose, and
TO the same exte that personal prop.
erty Is OF may be required to be taxed
in the place where such bank is located;
and such TAX shall be collected and paid
over in the same manner that taxes On 9TH
OF personal property are required by law
TO be collected and paid over; provided,
however, that the capital stock of any bank
shall not Ge returned or taxed for q less a.
tneunt than its capital stock paid in.
Sea- Each assessor Of any township
or ward, within the limits Of which any
bank or banking company may be located.
SHALL in case any President or Cashier OF
such bank or banking company, shall re-
fuse or neglect TO make ou. and deliver to
the assessor the statement herein required
enter as the amount Of capital, SO per cent
in addition. 10 the amourt of the capital
stock of said bank or banking compuny,
aud shall return the same TO the cou nty au.
diior, or to such other officer as the law
regulating his duties may require; provi-
ded, that in cases where city taxes are
assessed and collected by the city auIhori-
ties, the taxes upon banks as provided for
in this act, shall be assessed and collected
the same as city taxes upon other properly
for iha Time being, are assessed and collec-
ted in such city.
Sec B.. The Ohio Life Insurance and
Trust Company shall be taxed upon its
capilai stock, loaned IN the several coun-
ties, which shall be returned by the Presi-
dent or Cashier Of the Company, under
oath, to the several county auditors, in the
month o! May, annually, the average rate
per cent of the taxes for all purposes levied
upon the real ana personal property Of such
counties; and if the said company shall fail
TO eeta-n To the auditor of the several coun-
ties, the amount of its capital stock loaned
ia each county. before the first day Of June,
annually, the county auditor shall ascertain
from the record Of mortg ges or other ev-
idence, the amount of the loans made by
said company in his county, and he shall
pince the amount so returned, or ascertain
ed, upon the duplicate, and levy thereon
the average rate or per cent OF the taxes
levied for all purposes, upon the real and
personal property ef lhe county, which tax
shall be collected by the county treasurer,
and distribued, by giving to the Sta:e lis
proportion, according 10 the rate levied for
State purposes, and 10 the county, town.
ships. Towns, corporations, and rural dis
tric:s, their share of the balance, respect
lively, in proportion TO the several amounts
on which The average rate shall have been
determined; and in case default shall be
made in the payment of such tax, within
the lime limited by law, it shall be the duty
Of the county treasurer to proceed 10 collect
,he same; and fer That purpose he may file
bill in chancery in the court of common
pleas in the proper county, setting forth
the amount Of taxes assessed against said
company, and the names of the debtors of
said company, and shown by the records
Of such county: and it shall be the duty Of
suck court 10 take jurisdiction thereof, and
to geani an Injunction, appoint receiver,
and make such other and further order, as
may be necessary to subject the interest ac-
crnihg on the loans of said company, 10 the
satisfaction Of the tax aforesaid, with the
penalties and interest thereon, as provided
by law; and all the capital stock of said
conlpany, not loaned in the several coun-
lies Of the State, and returned and taxed as
afore.aid, shall be listed for taxation, and
returned by the President and Cashier Of
said institution, under oath. oil its true val.
us in money. and entered, together with
the surplus and contingent fund Of said
company, upon the grand levy for Hamil-
ton county, and taxed for the same purpo-
ses and 10 the same extent that other per-
sonal property is taxed in the ward in which
the Office Of said company is kept.
SEC. 4. Ii shall be the duly of every as
SCISSOR in whose jurisdiction there shall be
located any bank or banking company, 10
leave with some proper officer OF said bank
or banking company. a notice to make out
and deliver the statement required in the
first section Of this act.
SEC. 5. The taxes levied and and col
fected 10 pusuance OF the provisions Of this
act, shall be in lieu Of any taxes which
such bank or banking company would, by
existing laws be required TO pay on lis
dividends or profits.
SEC. 6. Stocks or shares held in banks.
banking companies or banking associations
or in other Incorporated companies or as
sociations in other States, and State stocks
oil other States held by corporations or cit.
izens of this State, either for themselves
or as agents or guardians, shall be subject