1014 ARTICLE 81.

1929, ch. 226, sec. 2.
2. As used in this Article:

(1) The term "corporation" shall include association or joint stock com-
pany.

(2) The phrase "organized under the laws" shall mean formed or ex-
isting under the statute or common law.

(3) The term "foreign" as applied to a corporation or company shall
mean organized under the laws of any State (other than this State), Ter-
ritory, District, possession or foreign country, or the United States.

(4) The term "domestic" as applied to a corporation shall mean or-
ganized under the laws of this State.

(5) The word "person" shall include a corporation unless such construc-
tion would be unreasonable.

(6) The word "executor" shall include an administrator and vice versa.

(7) A partnership shall be deemed a taxable entity and shall be in-
cluded by the word "person, " unless such construction would be unreason-
able, and shall, as to its property taxable in this State, be deemed a resi-
dent of the county and/or City where its principal business in this State is

carried on, without reference to the residence of the partners.

(8) The phrase "interest-bearing" or "dividend-paying" shall, as ap-
plied to securities, respectively mean actually paying interest or dividends

during the twelve months preceding the date of finality; provided that any
securities on which interest or dividends are withheld for the purpose of
avoiding taxes thereon shall be deemed interest-bearing or dividend-paying,
and provided further that newly issued bonds, certificates of indebtedness,
and evidences of debt on which no interest is in default shall be deemed
interest bearing, and provided further that the declaration of a stock divi-
dend shall be deemed the payment of a dividend within the meaning of
this sub-section.

(9) The phrase "ordinary business corporation" shall mean any corpo-
ration having a capital stock, except railroad companies whose roads are
worked by steam, electric or other power, street and passenger railways,
steamship and steam-boat companies, and all other common carriers, tele-
graph, cable, telephone, express, transportation, parlor car, sleeping car,
and oil pipe line companies, turnpike companies, bridge companies and

sewage disposal companies, safe deposit and trust companies, casualty,
surety, guarantee and fidelity companies, insurance companies of all kinds,
electric light or power companies, heating, refrigerating, water or gas com-
panies, building or homestead associations, state, national and savings
banks, finance corporations, or savings or moneyed corporations; provided
that any domestic railroad, railway, street or passenger railway, steamship,

steamboat, common carrier, telegraph, cable, telephone, express, transpor-
tation, parlor car, sleeping car, oil pipe-line, turnpike, bridge, sewage dis-
posal, electric light and power, heating, refrigerating, gas or water com-
pany, which neither owns, maintains nor operates properties, lines or
works in this State, or any other domestic corporation having a capital