The Democratic advocate., 1874-06-27
CHAPrER 400.
ASSESSMENT OF NATIONAL BANKS.
AN AcT


To provide for the assessment of the shares Of
the capital stock Of national banks. located in
this State, heretofore omitted to be assessed for
State purposes, and to collect the State taxes
due on said shares.
Section /. Be il enacted by the General As
sembly Of Maryland, That II shall be the duty Of
the cashier Of every national bank so called in
this State, which has not paid the State taxes on
the shares Of its capital stock, for and on account
of its several stockholders directly into the Treas
ury, on or before the first day of May next, to
report TO the county commissioners Of each Of
the several counties Of this State, and to the
appeal taa court Of Baltimore city, under the
hand Of said cashier, true and correct list Of
the stockholders VI said bank, residing in the
said counties and siiy respectively, and the num-
Der OF shares standsg In the name Of each Of said
stockholders, at the time Of making the return OF
stockholders for the assessment Of county and
city taxes in each year, for which said bank has
not paid the State taxes on said shares as afore-
said, and the par value of said shares and also
to report TO the county commissioners Of the
county in which said bank is located, or the ap-
peal tax court of Baltimore city, If the said bank
be located In said city, true and correct list Of
all the stockholders Of said bank who are nom
residents Of this State and ii shall be the duty Of
the said cashier at the same time, 10 return 10
the Comptroller Of the Treasury, duplicate Of
his said report to the said county commissioners
and appeal tax court as Aforesaid.
Sec. 2. And be It enacted, That the said coun-
~ commissioners and appeal tax court shall as
soon as possible after the receipt of the said re-
examine and see whether the State taxes on the
said shares have been assessed and collected from
the said stockholders respectively, or whether
the same have been omitted 10 be assessed against
said stockholders, and II the said State taxes
have been omitted to be assessed and collected
from said stockholders respectively or any Of
them, aud are still due and unpaid, then il shall
be the duty of the said county commissioners and
appeal tax court respectively, to assess the said
shares of stock so omitted, or on which The said
State taxes are still due and unpaid, OF their true
value for the year or years respectively for which
they may have been so omitted, or for which the
State taxes may be due and unpaid as aforesaid,
and 10 levy ,he State taxes due 10 said years re-
spectiyely on said shares, and to charge said
stockholders respectively with the State taxes so
due and unpaid on their said shares as aforesaid,
and TO place the accounts Of State taxes 30 due
from and charged to said stockholders respee-
lively, In the hands Of the collector Of State taxes
for said county and city respectively, and il shall
be the duty Of the said collectors respectively to
proceed at once to collect said State taxes and
pay the same into the Treasury Of the State.
Sec. 3. And be it enacted, That II said State
taxes shall not be paid by said stockholders with
In ten days after the said account shall have been
delivered to said collectors, II shall be the duty
Of the said collectors, respectively to give notice
to the said stockholders, by advertisement in some
newspaper published in the county or city where
said taxes are due and unpaid as aforesaid, Of
the amount OF said taxes due from each stock
holder as aforesaid, for each year for which the
same may be due and unpaid as aforesaid, which
advertisement shall be Published once week for
three successive weeks, warning said ssockhold-
ers respectively, to pay the said taxes 30 due as
aforesaid to said collector, on OF before some day
70 be Fixed by said collector. not less than ten
days afser the last publication Of said notice as
aforesaid, and giving notice that II said sasss are
not 80 paid he will proceed to sell the said shares
Of stock 50 held By said stockholders, respective
W 10 said bank, for cash, to satisfy said saxes.
and the costs and expenses attending the sale