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Proceedings and Acts of the General Assembly, 1874
Volume 211, Page 3676   View pdf image (33K)
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JAS. BLACK GROOME, ESQUIRE, GOVERNOR. 817

sell the said shares, or as many of the same as may-

 

be necessary, to the highest and the best bidder for

 

cash, to satisfy the said taxes, and the costs and ex-

 

penses of said sale, including the cost of said adver-

 

tisement.

 

SEC. 4. And be it enacted, That it shall be the duty

 

of the said collector, as soon as practicable after said

 

sale or sales, to report the same in writing to the cir-

To report in

cuit court of the county, or the City Court of Balti-

writing.

more city, as the case may be, with an affidavit of

 

the truth thereof, and of the fairness of said sale or

 

sales annexed ; and it shall be the duty of said court

 

to whom the said sale or sales shall be so reported, at

 

the earliest day practicable, to examine into the mat-

 

ter of the said report, and if it shall appear to the said

 

court that the provisions of this act have been sub-

 

stantially complied with, and that the purchase money

 

for the said shares of stock so sold, has been paid to

 

the said collector, to confirm said sale, and to order

 

the president and directors of the said bank to trans-

To confirm

fer the said shares of stock so sold, on the books of

said sale

said bank, to the purchaser thereof, and to issue a

 

certificate to said purchaser therefor ; and said order

 

shall entitle the said purchaser to said shares of stock

 

so sold as aforesaid; and if said court shall find that

 

the provisions of this act have not been complied

 

with, said court shall set the said sale aside, and shall

 

order the said collector to proceed to sell the said

 

shares according to the provisions of this act.

 

SEC. 5. And be it enacted, That said State taxes

Shall be a lien.

shall be a Hen on said shares of stock, standing in

 

the names of such stockholders respectively, from

 

the time of the making of said report by said cashier

 

as aforesaid until paid, and no transfer of the same

 

by said stockholers, after the making of said report

 

shall be available to pass any title to the said shares

 

of stock until said taxes are so paid as aforesaid.

 

SEC. 6. And be it enacted, That if, before the time

 

of making said report by said cashier, any of said

Transferred.

stockholders having shares of stock standing on the

 

books of said bank, in any of the years for which

 

said shares have been omitted, to be assessed and

 

taxed as aforesaid, shall have bona fide transferred

 

said shares or any portion thereof to some other

 

52

 


 

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Proceedings and Acts of the General Assembly, 1874
Volume 211, Page 3676   View pdf image (33K)
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