Herald and news. [volume] (West Randolph, Vt.) 1878-1943, 1895-01-03

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49,. AN ACT TO AMEND ACT NUMBER on -,
laws OF 1890, ENTITLED IAN ACT TO PROVIDE
/ prvFNTEa FOR THE PAYMENT OF STATE Fyprs
sESv SECTIONS 56S AND 57S TO 5SS, INCLUSIVE
VERMONT STATUTES)
NJ 1eyn5y enacted By the General assembly Of The Stat
SECTION l. Section 49, Of Act No. 81 Of the Laws Of 1890
hereby amended so as to read as follows:
Eerv cornoraon organized and existing under the laws Of on
tate Of other than the State Of Vermont and &
business this State and every corporation organized under III
Of this State and having capital stock deposit of fifty t
and dollars or less shall be assessed annual license Of m
dollars and for each fifty thousand dollars fractional part a
Of Of capital stock deposit N excess q my THOUSAND dollars
Maid to the State treasurer annually in the month of Feb
and return shall be made at the time Of payment to the
soner and treasurer Corporations organized Tor charitable
ligious purposes shall be exempt
SEQ Section 81 Of said act is hereby amended as to READ
as follows:
cude all building associations companies corporations and
other companies corporations organized under the laws Of @
any other state territory for the purpose Of negotiating
placing loans secured upon property without this State ma
be engaged in selling chooses action bonds secured by mort
cages property by pledges OF such mortgages and which
executed individuals issued by municipal or other corporation
without this State.
SEC Section So of said is hereby amended read
follows:
person investment company or corporation obtaining mr
from residents corporations this State to be loaned wi
the State doing business this State by selling debenture
mortgages upon real personal estate chooses in action, m
ties Of any kind upon property without this State not including
bills exchange having less than year to rum shall annually
the month Of july make returns to the commissioner Of Stat
taxes Of the amount of money so received and of the
bonds chooses in action securities OF any kind aforesaid sod
to parties corporations within this State Said returns
the period Of preceding the last day Of June annually
Sec Section SO of said act hereby amended to real
as follows
tax Of per upon the aggregate of all mon
received be loaned without the State and upon the gg
amount Of bonds mortgages chooses in action and securities
any kind negotiated aforesaid is hereby assessed against
person. investment company corporation receiving such money
ransacng said business Such tax shall be paid the Stat
treasurer within thirty days from the time of making said etu
and shall be in lieu of all other taxation thereon for the period
one year only.
person. agent investment company corporation may omit
payment of the tax provided in this section by giving the
and post office address Of the person corporation from WHOM
such has been received whom such bonds mortgages
chooses in action securities were sold and the amount received
from each such person corporation and informing the
that the taxes to be paid by the purchaser When
vantage taken Of this provision, the commissioner shall
thereon tax Of per cent against the person copo
whom such agent person. Investment or corporate
received such money whom said bonds mortgages cho
action other securities sold The payment of said
shall exempt such agent person. investment company
ton from all other taxes thereon for the period Of year
Said commissioner shall notify such person by mail of the TIA
assessed Immediately after such assessment made and the
shall be paid the State within thirty days from
time such notice issued the purchaser puts such sec
investments into his personal list for taxation and assessed
and pays thereon for the full in the where M
purchaser investor resides the commissioner may with the con
currence Of the treasurer remit payment of such tax
Sec Section 40 Of said act is hereby amended read
as follows:
person. agent, investment company corporation who refuses
neglects to comply with the preceding sections shall
fined not than five thousand dollars and less than aO
hundred dollars foreign investment company corporation
negects refuses the State shall have lien its bonds
filed with the State Treasurer according law for any
fine that may be imposed against it. The provisions Of Thu
and the three preceding sections shall not apply to corporation
organized in this State that pay taxes their capital stock
premiums or deposit except where the sales Of such securities
such excess.
Approved November 20, 1894.