State, entitled "Revenue and Taxes," be and the
same is hereby repealed, and the following section
enacted in lieu thereof:
SEC. 93. An annual tax of nineteen cents is hereby
levied on each one hundred dollars in value of the
shares of capital stock in any bank 01 moneyed cor-
poration of loan or discount, or other incorporated
institution or company incorporated by this State,
or organized under the authority thereof, except
railroad and canal companies, whether said shares be
owned by individuals, corporations or societies; and
it shall be the duty of the President, Cashier, or other
proper officer of the said banks, or such other incor-
porated institutions or companies respectively, annu-
ally on or before the first da}' of May in each year,
to return, under oath or affirmation, to the Comp-
troller of the Treasury, the number of shares of
capita] stock of said bank or other corporation or
company of which he is President, Cashier or officer,
the par value of said shares, and the real or market
value of the same to the best of his knowledge and
belief; and it shall be the the duty of the said Presi-
dent, Cashier or officer, annually on or before the
first day of July in each year, to pay to the Treasurer
of the State the said tax on said shares, whether the
said banker other corporation or company has declared
any dividend or earned any profits or not, and with-
out regard to the place of residence of the stock-
holders: and if any President, Cashier, or other
proper officer of any such bank or corporation or
company, shall fail to perform the duties required of
him by this section, he shall forfeit and pay to the
State of Maryland the sum of five hundred dollars,
to be recovered by action, in the name of the State,
in any court having jurisdiction of said cause under
the laws of this State; provided, that whenever the
capital stock of any bank or other company incor-
porated by this State, or organized under the au-
thority thereof, pays its tax on its capital stock im-
posed by the provisions of this Act, the property of
all descriptions owned by said incorporated company,
and used or employed in the transaction of its busi-
ness, shall be exempt from taxation.
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Annual tax
Duty of
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Duty of
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Proviso
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