Year: 1869

Approved Nov. Is, 1869.


An act providing for taxing stock in


trust companies and other moneyed


corporations organized, or which may


be organized under the laws of this


State.


II Is hereby enacted, DE.


Sec. /. 1t shall be the duty of the
cashier, clerk or executive officer, by
whatever name he may be called, of all
trust companies or other moneyed corpo-
rations organized, or which may be or
ganized under the laws of this State, to
transmit to the clerks Of the several towns
and cities in this State, in which any
stock or shareholder of such trust COM
pany or other moneyed corporation may
reside, a true list of the names of such
stock or shareholder, with the number
of shares standing against the name Of
each stock or shareholder on the books
of such trust company or other moneyed
corporation, together with the amount of
of money paid in on each share, on the
first day Of April on each year hereafter,
on or before the fifteenth day of April
in each year.


Sec. 2. The stock and shares of all
such trust companies or other monied
corporations, shall be set in the list and
taxed in the same manner that the stock
in the several banks in this State, which
are chartered under the authority of this
State, are liable to be taxed by the ex-
isting laws thereof


Sec. 8. If any of the stock of such
trust company or other moneyed corpo-
ration is owned by, or stands in the name
of, any person residing out of this State,
it shall be the duty of the cashiers, clerks
or executive officers by whatever name
called, of such trust companies or other
moneyed corporations, to transmit to the
clerk of the town or city in which such
trustcompany or other moneyed corpora
tions is situated, the names of all such
nonresident stock or shareholders, with
the number Of shares standing against
the name of each of such stock or share
holders on the books of such'trus compa-
ny or other moneyed corporation, togeth-
er with the amounts Of money actually
paid in on eachshare, on or before the
fifteenth of April in each year, and il
shall be the duty of the listers to set said
shares or stock in the list of such town
or city to the person or persons in whose
name such shares or stock shall stand.


Sec. A. Whenever the collector in any
town or city in which such trust company
or moneyed corporation is situated, shall
have a tax against any stock or share.
holder in such trust company or other
moneyed corporation, who is not resi-.
dent of this State, it shall be the duty O.
the cashier, clerk or executive officer o.
such trust company or other moneyed
corporation, upon presentation of such
tax to him by such collector, to pay the
same, and charge the same to such stock
or shareholder, on the books of such
. trust company or other moneyed corpo
ration; and the stock of such stock OF
shareholder, and all dividends due OIL
becoming due upon the same, shall be
holden to such corporation for the pay
: ment of such tax.


Sec. 5. If any cashier, clerk or Other
executive officer shall neglect or refuse


to make returns to any towns or cities ir


this State. as provided in this act, h.
shall forfeit and pay to the treasurer O.
such town or city, the sum of five hun
dred dollars, to be recovered by an actor
on the case in the name Of such Treasures


founded on this statute.


Sec. 6. All acts and parts of acts in
? consistent with the provisions of this ac
are hereby repealed.


r Approved Nov. IS, 1869.