The Vermont watchman. [volume] (Montpelier, Vt.) 1883-1911, 1895-01-02

No. IAN ACT TO AMEND ACT NUMBER 8 OF THE
LAWS OF 1890, ENTITLED GAN ACT TO PROVIDE
REVENUE FOR THE PAYMENT OF STATE EXPEN.
SEES" SECTIONS 5G8 AND 578 TO 5S2 INCLUSIVE.
VERMONT STATUTES)
us hereby enacted By tile General assembly Of the Sato of
Vermont:
SECTION Section 49, of No g. the Laws of $780, is
hereby amended SO as to read as follows
corporation organized of
state government other than the State of Vermont and doing
laws this State and having capital stock deposit of fifty thous-
and dollars or less shall be assessed an annual license tax Of ten
dollars and for each fifty thousand dollars fractional part there
Of capital stock deposit excess of fifty thousand dollars five
dollars but tax shall exceed fifty dollars Such tax shall be
and shall be made the time payment the
oner and treasurer Corporations organized for charitable
hglous purposes shall be exempt.
SEC Section 81 Of said act hereby amended
as follows
term investment company as used in this act shall in
cude all building associations companies corporations and all
other companies corporations organized under the laws of this
other state territory for the purpose of negotiating
placing loans secured property without this State that may
be engaged in selling chooses in action bonds secured by
property by pledges of such mortgages and which
executed by Or issued by municipal or other corporations
without this State
follows:
residents corporations this State to be loaned without
the State doing business this State by selling debnture bonds
upon personal action ecu-
ties Of any kind upon property without this State not including
Ds OF exchange having less than year to run shall annually in
the month OF July make returns to the commissioner of State
Of the amount of received and the
parties corporations within this State Said shall
for the period of preceding the last day of June annually
SEC Section 80 of said act hereby amended
follows
tax of cent upon the aggregate all moneys
received to be loaned without the State upon aggregate
amount of bonds mortgages chooses in action securities
any kind negotiated aforesaid is hereby against the
investment
or tranactng said business Such shall be paid the State
treasurer within thirty days from the time of making said returns
and shall be IN lieu of all other taxation thereon for the
one year only.
person. agent investment company corporation NAV omit
and post Office address of the person corporation whom
been received whom mortgages
chooses action securities sold and the amount received
from each such corporation and informing the
soner that the taxes be paid by the
vantage taken of this provision the shall
thereon tax of cent against the
received such money whom said bonds mortgages chooses in
action other securities sold The payment
shall such person.
ton from al other thereon for the period Of year only
Said commissioner shall notify such by mall the
assessed Immediately after such same
shall be paid to the State within thirty
time such notice issued If the purchaser puts such securities
investments into his list for taxation,
and thereon for the full where such
purchaser investor resides the with
curence of the treasurer, remit payment Of such tax
SEC Section 40 Of said act hereby amended to read
as follows:
AGENT Investment corporation who
negects to comply with the preceding sections shall
fined not than five thousand dollars and less
negects refuses the State shall its bonds
filed with the State Treasurer according law any
fine that be imposed against it, The provisions this
and the three preceding sections shall not apply
organized IN this State that pay taxes their capital
deposit where the sales of such securities
coed their premiums deposits capital stock but shall apply
such
Approved November 49, 1894.