248
Additional
sections.
Annual tax
on capital
stock.
<
President or
other officer
to report
number of
shares
Retain part
of dividend.
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LAWS OF MARYLAND.
CHAPTER 172.
AN ACT to add additional sections to article eighty-
one, of the Code of Public General Laws of this
State, entitled " Revenue and Taxes," under the
sub-title "National Banks."
SECTION 1. Be it enacted by the General Assembly of
Maryland, That the following sections be added to
article eighty-one, of the Code of Public General
Laws of this State, entitled " Revenue and Taxes,"'
under the sub-title " National Banks:"
195. An annual tax of nineteen cents is hereby
assessed and levied on each one hundred dollars, in
value of the shares of capital stock held by any per-
son or body corporate in any bank or banking as-
sociation established, or doing business or located in
this State, under the law of the United States of
America, usually denominated National banks; pro-vided that the tax hereby imposed shall not exceed
the rate of tax upon the shares of the capital stock
of any of the banks organizing under the authority
of this State.
196. The President, Cashier, or other chief officer
of any such banks or banking association men-
tioned in the preceding section, shall, by the first
day of May in each year, report to the Comptrol-
ler of the Treasury a true and correct statement of
the number of shares of capital stock in such bank
or banking association of which he is President,
Cashier or chief officer, and the par value of each
share; and the Comptroller shall annually, by the
first day of May in each year, notify the President,
Cashier, or other chief officer of said banks or bank-
ing associations, the amount of tax to be paid on the
shares of the capital stock of such bank or banking
association; and it shall be the duty of the said
President, Cashier, or other chief officer, to retain
so much of any dividend or dividends belonging to
the holders of such shares of stock as may be neces-
sary to pay the taxes assessed in pursuance of this
Act, and on or before the first day of July in each
year to pay to the Treasurer of the State the State
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