The Birmingham age-herald., 1907-03-16

Section 1. Be it enacted by the Begisla- ture of Alabama, That subdivision ' of Section 3911 of the Code of Alabama as amended by an Act of the Legislature of Alabama entitled An Act to better pro- vide for the revenue of the State ap- proved March 4th, 1903, be amended so as to read as follows: | A. That no mortgage. deed of trust. contract of con- ditional sales, or other instrument in the nature of a mortgage which is given to secure the payment of any debt which such mortgage, deed of trust, contract of conditional sale or other instrument of like character shall be executed so as to convey real property or any interest in real property or personal property which is situated within this State, shall be re- ceived for record unless the following privilege taxes shall have been paid upon suo1 instrument before the same shall be offered for record, to-wit: Upon all oh instruments which are executed to secure any indebtedness which shall not exceed one hundred dollars, there shall be paid the sum of fifteen cents, and upon all such instruments which shall be executed to secure an indebtedness of
 
 be paid the sum of fifteen cents for each one hundred dollars of said indebtedness or portion thereof, which is secured by said mortgage deed of trust, contract or condition of sale, or other instrument of like character to be paid for by the lender. B. That upon filing for record of such mortgage, deed of trust, contract of con- ditional sale or other instrument of like character the person to whom the same shall be made payable or his agent shall present the said instrument to the Judge of Probate of the County within which the property conveyed thereby or any part thereof is situated, and shall pay to the probate judge the amount of the tax re- uuired under this Act to be paid upon such mortgage, deed of trust, contract of con- ditionai sales, or other instrument of like character and upon such payment the probate judge or his clerk shall certify on said mortgage deed of trust, contract of conditional sale or other instrument of like character the. fact that the said tax has been paid, and when so certified by 1T probate judge or his clerk
 lment shall be admitted to
 -.iy county WHeIeili ally ol iie
 orty mentioned in said instrument IS situated, without the payment of any further tax thereon except the fee of the probate judge for recording such in- strument and such certificate of the pro- bate judge shall be recorded by said pro- bate judge when such instrument is re- corded. The tax herein provided for shall be paid upon all contracts for the sale of real or personal property whether the same be in nature of a conditional sale or a bond for title and no such contract shall be received for record until such tax shall have been paid. c. That when the time for the payment of the indebtedness secured by any such mortgage, deed of trust, contract of conditional sale, or other instrument in the nature of a mortgage Is executed or renewed, and the extension or renewal contract is offered for record the tax required in this Act shall be paid on the amount of the indebtedness so ex- tended or renewed; and the same shall be governed in all respects by the pro- vision of this Act" D. There shall be no ad valorem tax collected upon any such Instrument, or the debts secured there by, which shall have paid the tax pre- scribed by this Act either State, county of municipal" E. Of the taxes collected by the probate judge under this Act there shall be paid to the County Treasurer of the County in which such taxes are col lected by him to be accounted for by him, and the remaining two-thirds of said amount collected by the State Treasurer. The probate judge shall receive five per centum of the amount collected by him as compensation for his services in col lecting said money and certifying said in- strument. said five per centum to be re- tained by him out of the moneys collect
 by him under this Act. Provided, that
 the property described in said n- s lment is situated in different counties within this state, then the probate judge who collects said taxes shall pay over the amount due the County Treasurer to the County Treasurer of each of the different counties in which said property is situ- ated an amount of said taxes that will be in proportion to the value of the prop erty therein as compared with the value of the whole property within this State described in said instrument. F. Any probate judge who shall file for record or shall record any such instrument with out the same having been certified by the probate judge as provided by this Act, shall be guilty of a misdemeanor and on conviction be fined not less than ten or more than one hundred dollars. G. If any part of the property embraced or de- scribed in any instrument which is re- quired under this Act to pay record privilege tax is located without this state. the indebtedness upon which the tax shall be paid for the privilege of recording such instrument shall be that proportion of the property located in this state bears to the value of the wholep roperty de- scribed in the instrument. The State Board of compromise shall have the power to ascertain the value of the which is located within this State for the purpose of ascertaining the amount of the indebtedness upon which said tax shall be paid. And the value of that part of the property located within this State and the amount of the indebtedness upon certained in the following manner: First, the owner Of any such instrument or his agent or attorney may petition the State Board of Compromise to ascertain the value of the whole property and of that part of it which is located within this ( ba nF ind fal,