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1914, ch. 797, sec. 153A.

153A. In making the annual report to the State Tax Commissioner provided for in the preceding section of this Article, the president, cashier or other chief officer of every bank (State and National), located and doing business in this State, shall expressly state in such report the amount of the capital stock paid in, the amount of surplus, and the amount of undivided profits, together with such other information as may be required by the said commissioner under the provisions of the preceding section.†

Code, art. 81, sec. 154. 1916, ch. 631, sec. 154.

154. All corporations, partnerships, or individuals which are now or hereafter required by law to make an annual report of any kind or character whatsoever to the State Tax Commission of Maryland, shall make such report on or before the first day of March in each and every year, and upon the failure, refusal or neglect of any officer of any corporation, or upon the failure, refusal or neglect of any partnership or individual to make the report so required, it shall be mandatory upon the State Tax Commission of Maryland to impose on such officers of any corporation, partnerships or individuals failing to make such report, a penalty of five dollars, and one dollar per day additional for every day after the first day of March in each year until the first day of the succeeding June; and on the first day of June a further flat penalty of one hundred dollars, with an additional penalty of one dollar per day after the first day of June until the report is filed or until an assessment is made without a report; and it shall be the duty of the State Tax Commission of Maryland to ascertain at the time of making the assessment the amount of the penalty due and certify such penalty under the seal of their office to the AttorneyGeneral, who shall at once institute suit to recove: such sum, together with interest from the day of certification, by an action of debt in the name of the State of Maryland, and such suit may be instituted before a Justice of the Peace if he has jurisdiction, or a Circuit Court for the county or a Baltimore

† See section 162A of this Article, which is a part of this same Act, namely, the Act of 1914, ch. 797.

City Court, wherever the principal office of the corporation is located or where the partnership or individual carries on business or resides.

Ibid. sec. 152. 1888, art. 81, sec. 135. 1874, ch. 483, sec. 148. 155. On the failure, refusal or neglect of any such bank or banking association to pay said tax on the shares of its capital stock, as provided by the two preceding sections, by the first day of January succeeding said levy, the Comptroller shall cause suit to be brought in the name of the State against the said bank or banking association for the said taxes in the Circuit Court for the county, or the Superior Court of Baltimore City (as the case may be); and the said suit shall stand for trial at the first term, and judgment shall be rendered on motion unless issue be made, and a trial by jury be desired by either party, in which case a jury shall forthwith be empaneled to try the same; and the certificate of the Comptroller of the amount of said taxes and that the same remain due and unpaid shall be prima facie evidence to entitle the State to a verdict and judgment against said bank or banking association; and in all cases where the said Court shall find for the State, the judgment shall be rendered against the said bank or banking association for the amount of said taxes and ten per cent. additional as damages, and all costs, and a fee of fifty dollars shall be allowed the attorney in every such case, to be taxed as part of the plaintiff's costs in such suit.

1904, art. 81, sec. 153. 1890, ch. 544, sec. 133A.

156. The president, cashier or other chief officer of each security, safe deposit, fidelity, guaranty and trust company heretofore or hereafter incorporated under the laws of this State, or incorporated under the laws of any other State and located and doing business in this State, shall by the fifteenth day of April in each year make a full and detailed report under oath to the State Tax Commissioner of all securities and investments of every description held by such companies respectively, in trust or otherwise, for any person, corporation or trust estate, to the end that the said investments may be made subject to State, county and municipal taxation, properly applicable to the same provided by law; and the said Tax Commis

sioner shall annually by the fifteenth day of May in each year assess said securities or other investments according to their fair value, and levy the State taxes prescribed by law upon the same, and shall also immediately upon the receipt of said annual reports transmit a copy of the same to the county commissioners of the several counties in which the principal office of said companies shall be located, and to the Appeal Tax Court of Baltimore City, for the due assessment and levy of county' and municipal taxes upon such investments and other securities.

157. *

Ibid, sec. 154. 1888. art. 81. sec. 136. 1888, ch. 143

1904, art. 81, sec. 155. 1888, art. 81, sec. 137. 1878, ch. 178. 158. The County Commissioners and Appeal Tax Court are directed annually to correct the assessment of the property in their respective counties and the City of Baltimore, and to alter and correct the valuation of any property which may have been improperly valued, and to assess the same at its true value, and to alter and correct the account of any person whose property or any part thereof may have been omitted in the former assessment, or may have been since acquired; and if real estate or other property shall, from any cause, have increased or diminished largely and materially in value since the last levy, they shall correct, alter and amend the assessment of the same as aforesaid, so as to conform to its present value; they shall also, at any time, when so directed by the State Tax Commissioner, with the concurrence of the Attorney-General (signified by his opinion in writing), correct the assessment of the property in the respective counties and in the City of Baltimore, by striking therefrom any property which they shall be instructed by the said tax commissioner and AttorneyGeneral is not subject to taxation under the laws of this State or of the United States.

Ibid. sec. 156. 1888, art. 81, sec. 138. 1860, art. 81, sec. 97. 1847, ch. 266, sec. 10. 1864, ch. 391. 1872, ch. 127. 1874, ch. 483, sec. 87. 1902, ch. 468. 1906, ch. 84.

159. The president or other proper officer of the banks,

Was this section impliedly repealed by section 4 of Article 23 as amended by Act 1914, ch. 789. It was expressly repealed by chapter 596, section 16, of the

Acts of 1916.

State or national, and other incorporated institutions in the several counties, the City of Baltimore, and other incorporated towns of Maryland, shall annually, on or before the first day of March, furnish to the County Commissioners of each county or to the Appeal Tax Court of Baltimore City, and the city clerk of each city, town or village incorporated in the State of Maryland, in which any of its stockholders may reside, a list of the said stockholders, so far as their place of residence may be known to such officer, together with the number of shares of stock held by each. Said list shall show the stockholders of such banks and other incorporated institutions as they stand on the first day of January preceding, together with their residences and the number of shares held by each on said date, and the taxable value of such respective shares of stock, ascertained as hereinafter provided, shall for county and municipal purposes be valued to the owners thereof in the manner hereinafter as 'of the preceding first day of January of each year, and taxes thereon shall be collected for such banks and other incorporated institutions in the manner hereinafter provided, as of said first day of January. In case the president or other proper officer of said bank or other corporation fail or refuse to furnish a statement as herein required to the County Commissioners or Appeal Tax Court or city clerk aforesaid, on or before the day herein before specified for that purpose, then for each day that shall thereafter elapse until the said statement shall be furnished, the said bank or other corporation shall pay to the County Commissioners, or Mayor and City Council of Baltimore, or other municipal corporation, as the case may be, the sum of one hundred dollars; and for the valuation and effectual collection of taxes assessed on the stock of banks or other incorporated institutions, held by nonresidents, the president or other proper officer of the corporation shall annually, on or before the first day of March, make out and deliver to the County Commissioners of the county or the Appeal Tax Court, or city clerk of the municipal corporation where said corporation is situate, an account of the number of shares of stock in such corporation held by persons not residents of this State as of the first day of January preceding,

and the same shall be valued at its actual cash value, to and in the name of such stockholders, respectively, as of said first day of January preceding; but the tax assessed on such stock shall be levied and collected from said corporation, and may be charged to the account of such non-resident stockholders in the said corporation, and shall be a lien on the stocks therein held by such stockholders, respectively, until paid, and in no case shall the stock of any corporation, in the aggregate, be valued at less than the full value of the real estate and chattels, real or personal, held by or belonging to such corporation in the several counties and City of Baltimore, whether the shares of said stock are quoted on the market or not; in case of failure or refusal to comply with this requirement the said bank or other incorporated institution shall be liable to the penalty herein before prescribed; and the president and cashier or treasurer of any such bank or other incorporated institution failing to comply in every respect with the provisions of this section shall be liable to indictment therefor, and on conviction shall be fined not less than five hundred dollars, nor more than five thousand dollars, in the discretion of the Court, and shall stand committed until such fine is paid.*

1904, art. 81, sec. 157. 1888, art. 81, sec. 139. 1874, ch. 483, sec. 143. 160. The County Commissioners or Appeal Tax Court of Baltimore City may require the accounts of stock furnished as aforesaid to be verified by the oath or affirmation of the proper officer of the corporation, or may require that the stock and other books of said corporation shall be open to them for their inspection.

Ibid, sec. 158. 1888, art. 81, sec. 140. 1874, ch. 483, sec. 144.

161. If any such president or other proper officer shall fail to perform the duties imposed upon him by the two preceding sections, such officer shall, on indictment and conviction, be fined therefor not less than five hundred dollars.

* Baltimore vs. Safe Deposit Co., 97 Md. 659; Baltimore vs. Allegany Co., 99 Md. 1. The tax upon capital stock is not a tax upon the corporation, but upon the owners of the stock, the corporation being the medium of collection. Union Trust Co. vs. State, 116 Md. 368.

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