Chap. 520.—An ACT to amend and re-enact section 2307 of the Code of
Virginia, and to repeal section 2308 of the Code of Virginia. [H B 333]

Approved March 30, 1922.

_ 1. Be it enacted by the general assembly of Virginia, That sec-
tion twenty-three hundred and seven of the Code of Virginia be
amended and re-enacted so as to read as follows:

Section 2307. By whom property is to be listed; to whom taxed.
—If property be owned by a person sui juris, it shall be listed by
and taxed to him. If property be owned by a minor, it shall be
listed to and taxed by his guardian or trustee, if any he has: if he
has no guardian or trustee, it shall be listed by and taxed to his
father, if anv he has; if he has no father, then it shall be listed and
taxed to his mother, if any he has; if he has no guardian, nor
trustee, father nor mother, it shall be listed by and taxed to the
person in possession. If the property is the separate property of a
person over twenty-one years of age or a married woman, it shall
be listed by and taxed to the trustee, if any they have in this State;
and if they have no trustee in this State, it shall be listed by and
taxed to themselves. In either case, it shall be listed and taxed
in the county or city where they reside; but if they be nonresidents
of Virginia, the property shall be listed and taxed in the county or
city wherein such trustee resides. If the property be the estate of a
deceased person, it shall be listed by the personal representative or
person in possession, and taxed to the estate of such deceased person.
If the property be owned by an idiot or lunatic, it shall be listed by
and taxed to his committee, if any, if none has been appointed,
then such property shall be listed by and taxed to the person in
possession. If the property is held in trust for the benefit of another,
it shall be listed by and taxed to the trustee in the county of his
residence (except as hereinafter provided) ; that all farming imple-
ments, live stock and other personal property on a farm shall be
listed and taxed in the county where such farm is located, and not
elsewhere. If the property belong to a company or firm, it shall be
listed by and taxed to the company or firm. If the property belong
to a domestic corporation, which property 1s not otherwise taxed,
it shall be listed and taxed to the corporation by the principal account-
ing officer and at the principal place of business of such corporation ;
if the property belong to a foreign corporation, which property is not
otherwise taxed, it shall be listed to the corporation by the principal
officer and at the place designated by the corporation as the office
at which all claims against the corporation may be audited, settled,
and paid; provided, that, in the assessment of capital under schedule
“C,” section 8, subdivision 2 of the revenue act, the stock on hand,
raw materials for use in business whether at the place of business,
in storage or elsewhere, and machinery and tools not taxed as real
estate shall be listed by the corporation (domestic or foreign) by the
principal officer of such corporation and shall be taxed in the county
Or incorporated community im which such property is physically
located, as provided by law; but if not so listed, it shall be listed and
taxed in the place where the property has its legal situs for taxation.
If the property consists of money, bonds or other evidences of debt
under the control or in the possession of a receiver or commissioner,
it shall be listed by and taxed to such receiver or commissioner, and
the clerk of each court shall furnish the commissioner of the revenue
with all bonds and funds held by the commissioners or receivers
under the authority of the court. If the property consists of money
or other thing deposited to the credit of any suit, and not in the hands
of a receiver, it shall be listed by and taxed to the clerk of the
court in which the suit is, and such clerk shall, upon the order of
his court, made in term or vacation, withdraw from such deposit
the amount of such tax; provided that funds, credits or estate,
however evidenced, in the hands of a receiver or commissioner of a
court, or deposited to the credit of a suit, and held for distribution
or disbursement upon debts reported in any suit or proceeding pend-
ing in such court, shall not be listed for taxation against the com-
missioner, receiver or clerk unless such funds, credits or estate exceed
the total amount of the debt to be so paid, in which event, the excess
shall be listed for taxation against the commissioner, receiver or clerk
as the case may be; but such reported debts shall be taxed to the
respective creditors, and no order or decree for the distribution of
such funds shall be effective unless it directs the payment of such
tax as may be due, or recites that all such taxes so due have been paid.

If the property consists of money, bonds, stocks, or other eviden-
ces of public or private debts in any county or city other than that
of its residence, or State other than Virginia, it shall be listed by
and taxed to the owner thereof; and it shall be the duty of the
respective examiners of records of the several judicial circuits where
the respective fiduciaries are appointed or qualified, to report to the
respective commissioners of the revenue of the counties or cities in
which said property is liable for taxation, all property held by said
fiduciaries, to be taxed as provided by law. If the property be listed
by and taxed to any person other than the owner, it shall not be
delivered to the owner until the taxes thereon are paid or indemnity
given to the person in possession, for the payment thereof.

All money, bonds, estates, credits and other evidences of debt,
listed by and taxed to clerks, receivers and commissioners of courts
as hereinabove provided for, whether the same be for the purchase
price of real estate or personal property, shall be exempt from taxa-
tion in the name of the parties beneficially interested therein.

2. Section twenty-three hundred and eight of the Code of Vir-
ginia is hereby repealed.

This act shall apply to the assessment of taxes for the year
nineteen hundred and twenty-two and until otherwise provided by
law.

I, Jno. W. Williams, clerk of the house of delegates of Virginia,
do hereby certify that the session of the general assembly of Vir-
ginia at which the acts of assembly herein printed were enacted, ad-
journed sine die on March twentieth, nineteen hundred and twenty-
two.