ART. 12.] BANKS.

27"

ART. 21. In addition to the general assessments for
the purposes of state and municipal taxation, there
shall be annually levied and collected on the shares
of the capital stock of all banking corporations organ-
ized under this act, the sum of twenty cents on every
one hundred dollars thereof, to be applied in augmen-
tation of the " free school fund " of this state, and for

Tax on capital
stock for free
school fund.

the effectual collection of the said tax, the president, or
other proper officer of such banking institution, shall
make out and deliver to the assessors of the proper
county or city, annually, an account of the stock in
such corporation, and the same shall be valued at its
actual cash value, in the name of the respective stock-
holders, and the taxes assessed on such stock shall be
levied and collected from said corporation, and shall
be charged to the account of the respective stock-
holders, and shall be a lien on the shares of stock
held by said stockholders respectively, whether resi-
dent or non-resident within this state.

How collected
and charged.

32. If at any time any of the said corporations shall
neglect or refuse to pay, in gold and silver, or lawful
money of the United States, any of its notes, bills, obli-
gations or money received on deposit in violation of
the contract, promise or undertaking of said corpora-
tion, the person or persons entitled to demand and
receive such payment, shall respectively receive and
recover interest on said bills, notes, obligations and
deposits, until the same shall be fully paid and satis-
fied, at the rate of six per cent, per annum, from the
time of such demand.

Ibid. s. s.
In case of non-
payment of
notes, &c., by
bank, interest
may be recov-
ered.

33. If the said corporation shall neglect or refuse to
pay as aforesaid, any of its notes, bills, obligations or
money received on deposit, the holder of such note,
bill or obligation, or the person or persons entitled to
demand and receive such money, shall be respectively
entitled only to demand and receive, as creditor or as
debtor, to claim and set off such part of its assets as
shall be actually distributable and payable to such
creditor or debtor, at the time when such claim or
demand may be made.

Ibid. s. 9.
Rights of cred-
itors.