Chap. 104.—An ACT to amend and re-enact section 2307 of the Code of
Virginia, as heretofore amended. [H B 17]

Approved March 26, 1923.

1. Be it enacted by the general assembly of Virginia, That
section 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,
, Shall be listed by and taxed to his guardian or trustee, if any
e has; if he has no guardian or trustee, it shall be listed by and
axed to his father, if any he has; if he has no father, then it
hall be listed by and taxed to his mother, if any he has; and if
e has no guardian, nor trustee, father nor mother, it shall be
sted by and taxed to the person in possession. If the property
; the separate property of a person over twenty-one years of
ge or a married woman, it shall be listed by and taxed to the
rustee, if any they have in this State; and if they have no trus-
.e in this State, it shall be listed by and taxed to themselves.
n either case, it shall be listed and taxed in the county or city
there they reside; but if they be non-residents of Virginia, the
roperty shall be listed and taxed in the county or city wherein
uch trustee resides. If the property be the estate of a deceased
erson, it shall be listed by the personal representative or person
1 possession, and taxed to the estate of such deceased person.
f the property be owned by an idiot or lunatic, it shall be listed
y and taxed to his committee, if any; if none has been ap-
ointed, then such property shall be listed by and taxed to the
erson in possession. If the property is held in trust for the
enefit of another, it shall be listed by and taxed to the trustee
n the county or city of his residence (except as hereinbefore
rovided): provided, that all farming implements, live stock
nd other personal property on a farm shall be listed and taxed
n the county where such farm is located, and not elsewhere.
f the property belong to a’ company or firm, it shall be listed
y and taxed to the company or firm. If the property belong
o a domestic corporation, which property is not otherwise taxed,
; shall be listed and taxed to the corporation by the principal
ecounting officer and at the principal place of business of such
orporation; if the property belong to a foreign corporation,
vyhich property is not otherwise taxed, it shail be listed to the
orporation by the principal officer and at the place designated
y the corporation as the office at which all claims against the
orporation may be audited, settled and paid; provided, that, in
he assessment of capital under schedule “C,” section eight, sub-
ivision two, of the revenue act, the stock on hand, raw ma-
erials for use in business, whether at the place of business, in
torage, or elsewhere, and machinery and tools not taxed as real
state, shall be listed to the corporation (domestic or foreign)
y the principal officer of such corporation and shall be taxed
n the county or incorporated community in which such property
3 physically located, as provided by law; but if any property is
ot listed. as herein provided it may be listed by the proper
ssessing officer and taxed to the owner or to the person in pos-
ession in the county or city in which the property is physically
ocated or in which it has its legal situs for taxation.

If the property consists of money, bonds or other evidences
f debts 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 com-
missioner of the revenue with a list of 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 de-
posited to the credit of any suit, and not in the hands of a re-
ceiver, 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 dis-
tribution or disbursement upon debts reported in any suit or
proceeding pending in such court, shall not be listed for taxation
against the commission, receiver or clerk unless such funds,
credits or estate exceed the total amount of the debts 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
evidences of public or private debts in any county or city other
than that of his 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 judi-
cial circuits where the respective fiduciaries are appointed or
qualified, to report to the respective commissioners of the
revenues 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 moneys, 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
and purchase price of real estate or personal property, shall be
exempt from taxation in the name of the parties beneficially in-
terested therein.

2. This act shall apply to the assessment of taxes for the
year nineteen hundred and twenty-three and thereafter until
otherwise provided by law, and all assessments heretofore made
in accordance with the provisions of this act are hereby vali-
dated, ratified and confirmed and declared to have the same
force and effect as if made hereunder.