The Lancaster gazette. (Lancaster, Ohio) 1846-1852, 1851-04-24
LAWS OF OIIO-By authority.
inc.


10 TAX BANKS ana BANK unu otnet StoOeS ~
same a. other properly Is now taxable Oy Inc
laws Ut this State.
SEC. /. BE Il enacted by the Genera! As
sm6iy Of the SldSe Of OA'o, That Il shaI oe
the duly OF the President aud Cishler u
each aud every banking institution lncorPo-
rated by the laws OF this State anu having
the rlghi to issue bills % notes 'uF clrcu'a-
tlon, a, the time for listing personal proper
~ under the laws OF this State, 10 list the
c%aDital stock of such banking institution,
under oath, at its true value ia money, aud
return the same, with the amount of surplus
and contingent fGnd belonging TO such bank
ing institution, to the assessor ct the town
ship or ward in which such banking insli-
tuition is located; aud the amount SO return
ed, shall be placed On the grand duplicate Of
the proper county, aud upon the city dupll-
cate for city taxes, IN cnses where such city
taxes does not 90 upon the grand duplicate,
but is collected by the city officers, and tax
ed for the same purposes, aud to the same ex-
tent thatpersonal property Is or may be requl-
red 10 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 required by
law to be collected aud paid over; provided,
however, that the capital stock Of any bank
shall not be returned or taxed for a less a.
mount Than lis capital stock paid in.
SEC. 2. Each assessor of any townshipor
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 refuse nr neglect
10 make out aud deliver to the assessor the
statement herein required, enter as the am
cunt Of capital, 80 per cent. in addition to
the amount oflhe capital stock Of said bank
or banking company, and shall return the
1ame to the county auditor, or to such other
officer as the law regulating his duties may
Teqn.e; provided, that in cases where city
taxes are assessed and collected by the city
authorities, the taxes upon banks MS provid-
ed for in this act, shall be assessed aud col.
lected the same as city taxes upon other
property, for the time being, are assessed
and collected in such city.
Sec. 3. The OHIO Life Insurance end
Trust Company shall be taxed upon lis CAPT
tai stock, loaned in the several counties,
which shall be returned by the President or
Cashier Of the company, under oath. 10 tho
several county auditors, in the month Of
May, annually, the average rate per cent. Of
the taxes for ali purposes LEVIED upon the
real and personal property Of such counties;
and If the said company shall fail TO return
to the auditor Of the several counties, the
amount of its capital stock loaned in each
county, before the first day of June, annual.
ly. the county auditor shall ascertain from
the record Of mortgages or other evidence,
the amount Of the loans made by said CON.
pany in his county, and he shall plnce the
amount 50 returned, or ascerlalned upon the
duplicate, and levy thereon the average rate
OF per cent. of the taxes levied for all purpo.
SEES, upon the real and porsonnl property Of
county, which tax shall he collected blythe
county treasurer, aud distributed, by giving
to the State IT'S proportion, accord ng TO the
rate levied for State purposes, and to the
county, townships, towns, corporations, and
rural districts, their share Of the balance, re-
Bpectlvely, IN proportion 10 the several am
cunts on which tho average rate shall have
been determined; and in case default shall
be made in he payment Of such tx. within
the time limited by law, It shall be the duty
OF the county treasurer 10 proceed to collect
the same; and for that purpose ho may file
" ~ W ShuhNNll W wv hbulh " ''lllll'lU
pleas of the proper county, setting forth the
amount of taxes assessed against SAID com.
pany, and the names of the debt rs of said
company, as shown by the records of such
county; and II shall be the duty of such court
Ia take jurisdiction thereof. and 10 grant MI
injunction, appoint n receiver, and make
such other and further order, as mHy be ne
cessary 10 subject the interest accrulng Oh
the lOans Of sad company, To the sat %srnctlor
Of the tux Aforesaid, with the penalties Ant
interest thereon. ~ provided by law; and al
the capital stock ofsald company, not lonnet
IN ihH several counties of the State, aud re-
turned and taxed as aforesaid, shnll be LISTED
for tnxntlon, aud returned by the Preslden
aud Cashier OF sad institution, under oalh
as It's true value ~ money. and entered, to
getber with he surplus H. contingent fund .
said c mpany, upon the grind levy far Ham
llton cOun y, aud lnxed for The slme purpo
SEES aud to the safn" extent that other person,
al properly is taxed IN the ward in whicl
the ofi % of said compnny ia kept.
SEC 4. 1t shall be- The duty Of every as,
SCISSOR ~ whose Jurisdiction there shall b.
located my bank or banking company, It
lenv" with some proper officer of sAld bank
or banking company, n notice In make onl
and deliver the statement required in the
first section ofthls act.
SEC. 8. The taxes levied md collected in
pursuance Of the provisions of thus net, shall
be IN lieu Of any taxes which such bank or
banking company would, by existing laws,
be required to pay on It's dividends or pro.
fits.
SEC. @. Stocks or shares held in banks,
banking companies or banking associations,
or in other incorporated companies or nsso-
Citations in other states, and State Stocks IN
other States held by interpretations or eli.
zens Of this State, either for themselves or as
agents or guardians. shall be subject to tax.
alton. 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. 7. All laws or parts Of laws incon-
sis'ent with the provisions of this act, aro
hereby repealed.
JOHN +. MORSE,
Speakerof the House of Representatives.
CHARLES c. CONYERS,
Speaker Of the Senate.
March 81, 1851.