Association shall be deemed and considered as having
waived and forfeited all right to the privilege of the
exemption of its judgments, notes and other securi-
ties from taxation provided for in the Act of Assem-
bly passed at January session, eighteen hundred and
sixty-seven, chapter three hundred and forty-one, or
of any other exemption of its property, judgments,
notes, or securities contained in any other Act of
Assembly or law of this State, and such refusal shall
be deemed, taken and considered as an election on
the part of the said Bank or Banking Association to
subject the judgments, notes, and other securities
and property of said Bank ©or Banking Association
to taxation in the same manner as if said exemption
or exemptions had not been provided for in said Act
or Acts, and shall have the effect to render the same
liable to (taxation as aforesaid, during all the time
that said taxes shall have been so liable to) be levied
or shall have been or shall be so due and unpaid, on
the shares of capital stock, as aforesaid.
SEC. 4. And be it further enacted. That if any such
"Rank or Banking Association shall fail or neglect to
pay into the Treasury of this State the amount of
taxes so due as aforesaid, with the interest thereon,
on or before the first day of July next as aforesaid,
it shall be the duty of the Comptroller of the Treas-
ury to cause the said fact of non-payment and of the
amount of taxes so due to be made known to the
bounty Commissioners of the county in which said
Bank or Banking Association may be located, or of
the Appeal Tax Court of the City of Baltimore, if
the said Bank or Banking Association be located in
said city, and it shall be the duty of the said County
Commissioners or Appeal Tax Court, as the case
"may be, to cause an immediate assessment to be
made of the State tax upon all judgments, notes, and
other securities, belonging to the said Bank or Bank-
ing Association in each and every year for which
.such taxes may be due and unpaid, as aforesaid, and
shall give to said Bank or Banking Association
notice of said assessment, and the amount thereof,
and said taxes so assessed shall be levied upon the
property, real and personal, of such Bank or Bank-
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Work for-
feiture of ex-
emptions
Comptroller
to give notice
of refusal or
neglect to pay
Assessment
to be made.
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