The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1869-11-04
CHAPTER ~.

AN ACT to provide for taxing Bank Stock.
SECT. l. Section one of chapter one hundred and
and sixty-three is hereby amended by striking out
the word unknown in the seventh line and insert
ing instead thereof the following words whose resi-
dence is unknown to the assessors so that the Sec
ton as amended shall read as follows:
SECT. l. The stock of any bank held by persons
out of the state, unknown and that has not been
certified according to the provisions of chapter forty
six section of the revised statutes in any
city town in this state, and is not there assessed
and the stock any bank appearing by the books of
such bank to be held by persons residing beyond the
limits of this state, whose residence is unknown TO
the assessors shall be assessed for its proportion of
any state county town tax in and by the assessors
of the city town where such bank is located, or
makino the assessment aforesaid shall have lion at
taching from and after the date of such assessment to
such stock, and all dividends thereon until such
and any cost expenses arising in the assessment
and collection thereof has been fully paid. No assign
ment SALE transfer attachment shall pass any prop
erty in such stock unless the vendee shall first pay
by the chapter and section aforesaid make annual
returns to assessors hereby directed to return to
the assessors of the city town where such bank is
located transacts its business aforesaid all the
stock in such bank not returned to the of
other cities towns according to the provisions of
said section; and such returns shall be made at the
time and in the manner prescribed in said section,
and shall be made the basis of taxation of such prop
erty.
SECT. 2. When returns of stock in the banks and
national banking associations in this state are made
according to the provisions of section twenty-one of
one hundred and nnety-three of the public laws of
eighteen hundred and sixty-three if it be found by
the assessors of any city town receiving such re-
turns that the holders stock returned do not
reside in such city town, they shall forthwith re-
turn the names of such stockholders with the amount
of stock held by Them to the assessors of the city or
town where such stockholders reside if their resi-
dence is known and within this state ard if their
residence is unknown Or beyond the limits of this
state such return shall be made to the the
city or town where the bank is located and such
stock shall be there taxed and shall be subject to the
provisions of chapter one hundred and ninety-three
of the public laws of eighteen hundred and sixty
three.
SECT 8. Chapter hundred and ninety-three
of the public laws of eighteen hundred and sixty
three is amended by this act and section twentyone
chapter fortysX of the revised statutes shall here
after apply to all national banks and banking associ
atoms established in this state provided however,
that the taxation of shares in such national banks
shall not be at greater rate than is assessed upon
other monied capital in the hands of individual citi.
zens of this state.
SECT. 4. Chapter two hundred and nine of the
public laws of eighteen hundred and ixty-eight and
all other acts and parts of acts Inconsistent with the
provisions of this act, are hereby repealed
SECT. 5. This act shall take effect when approved
[Approved March II, 1851