ELIHU E. JACKSON, ESQUIRE, GOVERNOR.

85. Every savings bank, institution or corpor-
ation, organized for receiving deposits of money

383

and paying interest thereon, shall pay, annually,
a franchise-tax, to the amount of one-fourth of
one per centum, on the total amount of deposits
held by such savings bank, institution or cor-
poration, and it shall be the duty of the presi-
dent, treasurer, or other proper officer of every
such savings bank, institution or corporation,
on or before the first day of May, in each year,
to report, under oath, to the state tax commis-
sioner the total amount of deposits held by such
savings bank, institution or corporation, on the
preceding first day of January ; the state tax
commissioner shall, on or before the first day of
June following, calculate the amount of fran-
chise-tax to be paid by the said savings bank,

Franchise -tax

institution or corporation, at the rate hereinbe-
fore mentioned, and shall apportion one-fourth
of the same, to be paid to the treasurer of Mary-
land, for the state tax, and the other three-fourths
of the same to the county in which such savings
bank, institution or corporation, is situate, or
to the city of Baltimore, if such savings bank,
institution or corporation, be situate in said city,
and shall certify the said amount, due to the
state, to the comptroller of the treasury, to be
collected as other state taxes, and the amount
due to the counties in which such savings banks,
institutions or corporations, are severally situate,

How appor-
tioned.

to the county commissioners for such counties
respectively, and the amount due to the city of
Baltimore to the appeal tax court of such city,
to be collected as other county and city taxes due
from corporations are collected, and such fran-
chise-taxes, as so apportioned, shall be due and
payable respectively, as other state, county and
city taxes are due and payable by law, and, if
unpaid, shall be in arrear, and shall bear interest
as other such taxes ; and no other tax shall be
laid on such bank, institution or corporation, in
respect to such deposits, but the real property
of any such savings bank, institution or corpor-
ation, shall be liable to assessment and taxation
as other real property belonging to other corpor-
ations in this state ; any president, treasurer, or
other proper officer whose duty it is, by the terms

How collected