ART. III] LEGISLATIVE DEPARTMENT. 65

any person so bribing, or attempting to bribe, or so demanding or receiv-
ing a bribe, fee, reward or testimonial, to testify against any person or
persons who may have committed any of said offences; provided, that
any person so compelled to testify shall be exempted from trial and
punishment for the offence of which he may have been guilty; and any
person convicted of such offense shall, as part of the punishment thereof,
be forever disfranchised and disqualified from holding any office of
trust or profit in this State.

See article 27, section 26, et seq., of the code of 1004.

See article 1, section 3, of the Md. constitution.

Sec. 51. The personal property of residents of this State shall be
subject to taxation in the county or city where the resident bona fide
resides for the greater part of the year for which the tax may or shall
be levied, and not elsewhere, except goods and chattels permanently
located, which shall be taxed in the city or county where they are so
located.

[Sec. 51. The personal property of residents of this State shall be
subject to taxation in the county or city where the resident bona fide
resides for the greater part of the year for which the tax may or shall be
levied, and not elsewhere, except goods and chattels permanently located,
which shall be taxed in the city or county where they are so located, but
the General Assembly may by law provide for the taxation of mortgages
upon property in this State and the debts secured thereby in the county
or city where such property is situated.]*

Stocks and bonds.

The situs for taxation of property dealt with by this section is ordi-
narily the domicile of the owner, but the legislature may fix a different
situs provided there be no conflict with the constitution. Corporate stock
held by a resident of Maryland may only be taxed at the bona fide resi-
dence of the owner. Shares of stock are personal property of the respec-
tive owners for the purpose of taxation. Corporate stock is property in
the nature of a chose in action. The act of 1900, chapter 579, providing
that shares of stock of corporations of Allegany county should be assessed
in Allegany county to these corporations and exempting the shareholders
from taxation thereon, held to violate this section. Baltimore v. Allegany
County, 99 Md. 7.

The act of 1902, chapter 486, fixing the situs for taxation of personal
property held in trust at the residence of the cestui que trust, held not to
conflict with this section so far as stocks and bonds are concerned. When
the property held in trust is stock in corporations of tnis state, the act of
1902, being in pan materia with the existing laws requiring the corpora-
tion to pay taxes on its stock, the two laws should be construed together
and the residence of the cestui que trust treated as the situs for taxation.
The validity of the act of 1902, in so far as it may conflict with the spe-
cial provision of this section for the taxation of goods and chattels perma-
nently located, or of mortgages and the debts thereby secured, or whether
said act was intended to apply to leaseholds or any other interests in
lands, not passed on. Baltimore v. Safe Deposit & Trust Co., 97 Md. 662.

Where a guardian resides in Washington city and is appointed there,
and the ward and her husband resided there three-fourths of the year and
the residue of the year in Harford county, stocks and bonds held by the

*Thus amended by the act of 1890, chapter 426, ratified November 3, 1891.
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