The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1901-04-19
e. within three 90 years from rne payment

Sec; z. Any person or corporation bene-
f1cially interested in any property
ehargeable with a tax under this act,
and executors, administrators and trust
ees thereof, as herein provided not re-
Quired to pay such TAX until the person
or persons benefcially interested therein
shall come into the actual possession
! or enjoyment thereof, shall give a bond
to the state IN a penalty of three times
the amount OF any such tax, with such
surettes as the probate court of the prop
er county may approve, conditioned for
the payment OF such tax, or interest
thereon at such time or period as the per
son or persons benefcialIy interested
| therein may come into the actual pos
session or enjoyment Of such property
which bond shah be fled dn the office Of
| the probate court.
Such bond must be executed and filed
and a full return of such property upon
| oath made to tho probate court within
one year from the date Of transfer there
OF as herein provided, and such bond
must be renewed every five years.
Sec. 8. If a testator beuuteaths or de-
! VlseS property to one og more executors
or trustees In lieu of their commission q
allowance, or makes them hts legatees to
| an amount e0ceeding the commission or
! allowance prescribed by law for an exec
utor or trustee, the excess in value so
nequeathed or devised above the amount
OF commissions or allowances prescribed
by law in similar cases, shall be taxable
| under this act.
sec. D. II foreign executor, admin
1strator or trustee shall assign or trans
standing in the name OF the 6ecelent
or In trust for a decedent liable to any
such tax, the tax snail be paid 10 the
| transfer thereof.
No safe deposit company, bank or other
! institution, person or persons holding Sc
curIty or assets of a lece 1ent shall de-
nVer OF transfer the same to the ex-
| ecutors, administrators or legal repre-
SentatiVes of said decedent, unless notice
) OF the time and place of such intended
'I raiHSler pc served upon the county treas
the said transfer. And it shall be lawful
| for the said county treasurer per-
sonaliy OF by representative, to ex-
| anime SAID securities at the time
of such delivery or transfer Fail
ure TO serve such notice or allow such
examination shall render said safe de-
p9SlI company, trust company, bank, or
oIher institution, person or persons. la
! ple 70 the payment Of the tax due upon
SAID security or assets, pursuant to the
| provisions of this act.
sec; 10; The probate court Of every
county or the state having jurisdiction
70 grant letters testament tary or of adj
| 1n1u1SCrauOn upon the estate of a dacnd-
ent whose property IS chargeable with
| any Tax under this act, or to appoint a.
| trustee OF such estate, or any parf there
| OF, or to give ancillary letters thereon
snail nave Jurisdiction to hear and de-
1 rgtilie al! questions arising under the
IN relatlon thereto authorized by law to
! 70 uoIle by a probate court in other mat
i iers, or proceedings coming within it's
| guTlso4ct1on, and if two OF. more pro-
| bate courts shall be entitled to exercise
| such jurisdiction, the probate court first
ACQUIRING I Jurisdiction hereunder shall
ae t{n LLIe same to the exclusion of every
! other probate court.
| Every petition for ancfIlary letters
| leStanentary or ancillary letters of adj
roLlf9.1 tlon mace In pursuance of the
| state in relation thereto shall cat for+b
| the name of the county treasurer as a
person to be cited upon the hearing Of
stia 4o., peIton ana a true and correct
! statement OF all the decedent's pronertv
In this state and the value thereof and
upon the presentation thereof tine nro
pate court shall issue citation direct
| ed to such county treasurer and 11pon tha
return or the citation the probate court
snail determine the amount of the fax
winch may be or become due under the
pro o,iSi.5l or this act, and his decree
PROVISIONS for the payment of such tax
| or the giving of security therefor. which
nIllSnt pc made by such probate court, if
decedent ~ VI
Sec. II. The probate court. upon the
! appHcauon of any interested party, in
| c c1lI'I county treasurers, or upon his
| oWll lnotlon, Shall, as often as, and when
occasion requires. appoint two competent
persons as appraisers to fix the fair mar
net value at the time Of the transfer
| thereor, of property Of persons whose
| estates shall be- subject to the payment
! Oh amy tax imposed by this act
II the property upon the transfer of
w M4Lch a TAX Is imposed shall be an es-
| Idoe, income, or interest for a term Of
| years, or for life, or deternina1ble unon
any future or contingent estate, or shall
@9 q reLaAnder or reversion or other
| expectancy, the entire property or funds
! py winch such estate, income or Interest
| IS supported or Of which it is a mart
S ,.f pc appraised Immediately after such
TRANSFER, or as soon thereafter as NAV
| pc pracuicable at the fair and clear mar
| ket value thereof, at that time,
PROVIDED, however, that when such es-
9aGe. income, or interest shall be of such
! value cannot be ascertaif1ed at such
tlne, 1t shall be appraised in like manner
! d. tne time when such value first be-
| comes aScertainable.
The value of every fl1fI1re or con+ir-
| gent or limited estate, income, interest or
| annuity dependant upon any life or lives
M peang' shall be determined by the rule,
| tIeChod and standard of mortality and
| Value, employed by the Insurance com
| missioner of this state in ascertaininy
| Inc value OF policies of life Insurance.
| Tor the determination of liabilities of
| lie insurance companies, except that the
| rate OF interest for computing the pres
| ent value Of all future and contingent
| interests or estates shall he five (F1 nor
| centum per aTnum.
| sec. IL Every such appraiser shall
| forthwith give notice by mail to all nor
| soIi5 known to have a claim or interest
| IN the property to be appraised including
| the county treasurer and to such persons
| as tine probate court may, by order di-
rect, of the time and place when they
| Will appTa1se such property.
They shall at such time and place ap-
| praise the same at its fair market value
| as herein prescribed and for that p1Ir
pose the said appraisers are authorized
| to issue subpoenas and to compel the at
| tendance OF witnesses before them and
| TO take evidence of such witnesses under
oath, concerning such property and the
| VaIlle thereof, and they shall make re-
| port thereof and Of such value in writ
| Ing TO the said probate court, together
with the depositions of the witnesses
/ examined and such other facts in rela-
| ton thereto and to the said matter as
/ said probate court may order or require
| Every appraiser shall be paid ON the GER
! tlacate or the probate court at the rate
! OF three dollars per day for each dav
| actually and necessarily employed in such
! appraisal, and their actual and necessary
| travelling expenses, and the fees paid
| such witnesses, which fees shall be the
same as those now paid to witnesses sub
poenaed to attend in courts of record
| by the county treasurer out Of any funds
| he may have in his hands on account of
| amy tax imposed under the provisions
| Of this act
! Sec. 49, The report of the appraisers
shall be filed in the office of the probate
| court, and from such report and other
| proof relating to any such estate before
| tine, probate court, the court shall forth
| with, as of course, determine the cash
| value OF all such estates and the amount
| of tax to which the same are liable with
out appointing any appraisers.
| The Insurance commissioner, shall on
| the application Of any probate court de-
| term1ne the value of any such future or
| contingent estates, income, or interest
| UNITED, contingent, dependent or deter