LAWS OF MARYLAND. [CH. 233

pality at the residence of such stockholders. Bonds, shares of
stock and securities as enumerated in Article 81, Section 214
of the Code of Public Civil Laws (1912) owned by an ordinary
business corporation shall be valued and assessed in the man-
ner, and taxes shall be paid thereon, at the rate provided in
said Article 81, Section 214, as if owned by a natural person.

Approved April 9, 1920.

CHAPTER 233.

AN ACT to repeal and re-enact with amendments Section 154
of Article 81 of the Annotated Code of Maryland (Vol-
ume 4), entitled "Revenue and Taxes," sub-title "State
Tax Commissioner.''

SECTION 1. Be it enacted by the General Assembly of Mary-
land, That Section 154 of Article 81 of the Annotated Code of
Maryland (Volume 4), entitled "Revenue and Taxes," sub-
title "State Tax Commissioner," be and the same is hereby
repealed and re-enacted with amendments so as to read as
follows:

154. All corporations subject to assessment on property
or shares or against which any tax is calculated by the State
Tax Commission of Maryland, as is now or hereafter may be
proAdded by law, shall file with the said Commission an annual
report in such manner as and calling for replies to such inter-
rogatories, as may be determined upon by said Commission,
said report to be filed not later than the first day of! March in
each and every year as of the first day of January preceding
said first day of March, and said Commission in entering any
assessment against the property or shares of any corporation
shall consider for assessment purposes the corporate status as
to property or shares as of said January first.

Upon the failure, refusal or neglect of any corporation
through its officers to make and file a report required by this
section and by the time herein set out, the State Tax Com-
mission shall impose on such corporation a penalty of five dol-
lars, and in addition one dollar for each period of ten days
and fractional part up to the first day of June, when there
shall be an additional penalty of ten dollars, and thereafter
one dollar for each period of ten days or fraction thereof.