The Portsmouth inquirer. [volume] (Portsmouth, O. [Ohio]) 1849-1855, 1851-04-14
LAWS OF OHIO.
By AUTHORITY.
AN Alt

q :
s.st d.u AN AIT
To tax Banks and Bank stock, and other stocks
the same as Other property is nov taxable by
the laws Of this State. ~ et-
SEC. l. Be it enacted bp the General Assem-
oy Of the State ofOhio, That it shall be the
duty of the President and Cashier Of each and
every banking institution incorporated by the
laws of this State, and having the right to issue
bills or notes for circulation at the time for list
ing personal property under the laws of this
State, to'list the capital stock Of such banking
iustitution, under oath, at it true value in mo-
ney, and return the same, with the amount of
surplus and contingent fund belonging to such
banking institution, to the assessor of the town.
ship rwardin which suchlbanking institution
is located; and the amount so returned, shall be
placed on the grand duplicate of the prop. I
county, and upon the city duplicate for city
taxes, in cases where such city taxes does not
go upon the grand duplicate, but is collected by
the city officers, and taxed for the same pur-
poses, and to the same extent that personal
property is or 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 other personal property are
aSHuhSu W low W uC OSitCSlSu duu pdlu OfGIJ
provided. however, that the capital stock of
any bank shall not be returned or taxed for a
less anio unit than its capital stock paid in "
SEC. 2. 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 bank
ing company, shall refuse or neglect to make out
and deliver to the assessor theStatement. herein
required, enter as the amount of capital 81 per
cent. in addition to the amount of the capital
stock oil said bank or banking company, and
shall return the same to tile county auditor, or
to such other officer as the law regulating his
duties may require; provided. that in eases
where city taxes are assessed and collected by
the city authorities, the taxes upon banks as
provided for in this act, shall be assessed and
collected the same as city taxes upon other prop
erty, for the time being, are assessed and col
lected in such eitv. M .,,a
SEC. 8. The Ohio Life Insurance and Trust
Company shall be t xed upon its capital stock
loaned in the several counties, which shall be
returned by the President or Cashier of the
company. under oath, to the several county au-
ditors, in the month of May, annually the aver
age rate per cent. of the taxes for all purposes
levied upon the real and personal properly of
such counties; and if the said company shall
fail to return to the auditor of the several coun-
ties, the amount Of its capital stock loaned in
each county, before the trst day of June, an
nnally, the county auditor shall ascertain from
the record Of mortgages or other evidence, the
amount of the loans made by said company in his
codnty, and he shall place the amount so returl-
ed, or ascertained. upon the duplicate, and levy
thereon the average rate or per cent. of the tax
es levied for all purposes. upon The real and
personal property OF the county, which tax shall
be collected by the county treasurer, and dis
tributed, by giving to the state its prUpJrtiOn,
according TO the rate levied for state purposes,
and to the county, townships, towns, corpora
tions, and rural istricts, their share Of the bal
ance, respectively, 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 lax, within the
time limited by law it shall be the duty Of the
county treasurer to proceed to collect the same
and for that purpoe he may file bill in chan
Gerry in the court of common pleas of the prop
er county, setting forth the amount of taxes as
sessed against said company, and the names of
the debtors Of said company, as shown by the
records of such county, and it shall be the duty
of such court to take jurisdiction thereof and 10
grant. an injunction, appoint receiver and
make such other and further order as may he
necessary to subjectt the interest accruing on the
loans of said company, to the satisfaction Of the
tax aforesaid, with the penalties and interest
thereon, rs provided by law; and all the capital
stock of said company, not loaned in the sever
al counties of the tate, and returned and taxed
as aforesaid, shall be listed for taxation, and re-
turned by the President and Cashier of said in
stltulion, under oath, at its true value inmoney,
and entered together with the surplus and coH-
tingent fund Of said company, upon the grand
levy for Hami ton county, and taxed for the
same purposes and to the same extent that other
personal property is taxed in the ward in which
the Office OF said company is kept.
SEC. 4. 1t shall be the duty of every asses
sor in whose jurisdiction there shall be located
any bank or banking company, to leave with
some proper officer of said bank or banking
company. notice to make out and deliver the
statement required in the first section Of this
act.r a. ~ Il Is .s s41 r-.-
+ SEC. s. The taxes levied and collected in
pursuance of the provisions of this act, shall be
IN lieu OF any taxes Which such bank OF bank.
ingcompany would, by existing laws, be reouir
ed to pay on its dividends OF profits. '.iF
SEC. 6. stocks or shares held in banks,
banking companies or banking associations. or
IN other incorporated companies or associations
IN other States, and State stocks Of other states
held BY corporations or citizens of this State,
either for themselves or as agents or guardians.
shall be subject to taxation, the same as bonds,
mortgages, notes or other evidences Of debts,
held by citizens Of this State, are now taxable
by the laws of this State.
SEC. I. All laws or parts Of laws inconsist-
ent with the provisions Of this act are hereby
repealed. osi saaE ag
.sayot Y JOHN F. MORSE,
Speaker Of the House Of Representatives..
CHARLES. c. C0NVERS,
March 2t,ls5l, Speaker Of the Senate.