St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1912-09-07

instance either in chambers or at
term time.
IL. No bond shall be required of
said Commission in any case In any
court, nor shall advance costs, or
security for costs, be required of It.
IL. It shall be the duty of the
Attorney General, and the various
district attorneys, on proper request
or direction by the Commission or
the Governor, to aid tho said Com
mission in all legal matters, and to
prosecute and defend al cases in &C.
cordance with such requests and d.
rections. A failure on the part of
such law Officers, when so requested
or directed to perform the duties
here imposed upon them. shall con-
stitute misfeasance in office.
ARTICLE vi.
/. After January /, 1914, all as
sessments for al State purposes, ex-
cept ~ hereinafter provided, shall
be completed ON or before April LIST
in each year, and the taxes shall be-
come due and payable on the first
Monday in June of each year, and
shall become delinquent on the first
Monday in September In each year.
Each parish and municipality shall
have the right to fix the date for
the completion of its local assess
ments, and the payment Of its local
taxes and licenses general and spec
ial, until otherwise prescribed by the
General Assembly. Until otherwise
provided. existing laws on these sub
jects shall be operative Levee dis
trict taxes and forced contributions
exclusive of produce taxes, shall be
assessed and become delinquent CO.
incidentally with parish taxes.
2. Public service corporations
shall be assessed on their physical
property and ON their franchises sep
arately, but the General Assembly
shall have power to direct the Tax
Commission to assess the property
LOT such corporations at q valuation
including both physical property and
franchises, to be determined by
gross receipts, or by dividends on
stocks and interest paid on bonded
debt, or by any other available
method.
3. Incorporated banks shall be
assessed by assessing the stockhold-
ers on the book value of the stock,
/. e., capital stock, surplus and undi-
vided profits less the assessed value
Of real estate locally assessed and
taxed, and less such further de-
auctions Of not less than five per
cent on their loans and discounts to
cover bad debts and unearned in.
terest - the General Assembly may
prescribe, which deduction shall be
made only from their surplus and un.
divided profits; all taxes to be paid
by the banks and charged to the
stockholders.
1. Individual bankers, banking
firms and unincorporated banking
associations, domiciled in this State
shall be assessed on the amount OF
capital, surplus and undivided pro.
dts actually employed in their bust.
ness, less the assessed value of rea
estate locally assessed and taxed, &C
tually and exclusively used and EN-.
ployed in their business, and lest
such further deductions not less thar
i've per cent on their loans and dis
counts to cover bad debts and un
earned interest as the General As
sembly may prescribe, which deduc
ton shall be made only from theil
surplus and undivided profits.
5. Foreign banks, and individual
bankers, banking firms and unincor
porated banking associations, domi
ciled out Of this State but doing bust
ness in this State, shall be assessed
on such proportion of their capital
urplus and undivided profits as /.
actually employed in this State, les,
the assessed value of real estate 10
cally assessed and taxed actually ant
Exclusively used and employed in
their business in this State, and les,
such further deductions, not les,
than five per cent on their loans ant
discounts, to cover bad debts and un
earned interest as the General As
sembly may prescribe, which deduc
tons shall be made only from theil
surplus and undivided profits.
s. Insurance, bonding and surety
associations engaged In the insur
ance, bonding and surety business
excluding, however, fraternal ipsur
ance companies and associations
shall be taxed on q percentage O
their gross premiums received upor
heir business done in this State, les,
return premiums and reinsurance II
ompanies or associations authoriz
ed to do business in this State. The
percentage Aforesaid shall not exceed
three per cent for all branches of in
surance, bonding and surety bust.
ness, except life. and industrial in
| urance, and shall not exceed two
YER cent for life and industrial In
urance. The special taxes to sup
port the office of fire marshall and
fire prevention bureaus shall not b
| deducted from the premiums hereby
authorized to be taxed. When by
the laws of any other State or coun.
try any taxes, fines, penalties, licen.
SEES, fees, deposits of money or of Sc.
curities, or other obligations or pro.
hibitions are imposed on insurance
bonding or surety companies of this
State doing business in such other
State or country, or upon their agents
therein In, excess of such taxes, pen
alties, fees, licenses, deposits of mon
ey, or of securities, or other obliga-
tons or prohibitions imposed upon
such insurance, bonding or surety
companies of such other State or
country. so long as such laws con.
tinue in force the same obligations
and prohibitions of whatsoever kind
may be imposed by the General As
sembly Of this State upon insurance
bonding or surety companies of such
other State or country doing business
In this State.
Z. Irrigation canals shall be tax
ed on percentage not to exceed two