1852.

LAWS OF MARYLAND.

CHAP. 337.

Stock of bank-
ing and other
private corpo-
rations, held
by non-resi-
dent stock-
holders.

SEC. 17. And be it enacted, That for the purpose

of valuing the stock of banking, and other private cor-
porations, held by non-resident stockholders, it is hereby
declared and understood, that the stock of banking,
insurance, or other corporations, usually termed mo-
neyed institutions, is situated at the place at which the
principal office for transacting the business of such cor-
poration is situated; that the stock of a turnpike, rail
road, canal, or other improvement corporation, is sit-
uated at the place where its principal office for the tran-
saction of business shall be established, if the said office
be within the limits of this State, and if not, then the
assessable property of such corporation shall be valued
and assessed in the county or counties in which it is
situated, and in the city of Baltimore, so far as it is sit-
uated in said city; and that the stock of mining, man-
ufacturing and other like corporations, situated at the
place where the works of such corporation, or the
greater part of its operations, shall be conducted.

Stock

of private as-
sociations, to
be valued at
its actual
cash value.

SEC. 18. And be it enacted, That for the effectual
collection of the taxes assessed on the stock of private
corporations, held by non-residents, the president, or
other proper officer of the corporations, liable to valua-
tion and assessment, shall make out and deliver to the
assessors of the proper county or city, an account of
stock in such corporation, held by persons not residents

of this State, and the same shall be valued at its actual
cash value, to and in the name of such stockholders
respectively, but the tax assessed on such stock, shall
be levied and collected from the said corporation, and
shall be charged to the account of such non-resident
stockholders, in the said corporation, and shall be a lien
on the stocks therein held by such stockholders respec-
tively.

Account of
stock to be
furnished un-
der oath.

SEC. 19. And be it enacted, That said assessors shall
require the account of stock furnished as aforesaid, to
be verified by the oath or affirmation of the proper-

officer of the corporation, or may require that the stock
books of said corporation shall be opened to them for
their inspection.

Assessors to
enter upon du-
ty on or before
12th of July.

SEC. 20. And be it enacted, That the assessors ap-
pointed as aforesaid, shall enter upon the duty of valu-
ing the property in their respective assessment districts,
on or before the twelfth day of July next, after the
passage of this act, and shall proceed therein with all
reasonable diligence and despatch, so that the same may
be completed before the first day of December there-
after.