Chap. 428.—An ACT to amend the Tax Code of Virginia by adding thereto a
new section to be numbered 417-c to provide for the correction of erroneous
assessments on bank stock. [H B 430]

Approved March 30, 1936

1. Be it enacted by the General Assembly of Virginia, That the
Tax Code of Virginia be amended by adding thereto a new section,
numbered four hundred and seventeen-c, which new section shall read
as follows:

Section 417-c. Correction of erroneous assessments on bank stock.—
Until it has paid any tax heretofore or hereafter imposed under chapter
eight of the Tax Code, any bank in the said chapter referred to may,
in its own name and for the benefit of itself and of its stockholders,
make application under chapter twenty-six of the Tax Code for the
correction of the assessment of such tax to the same extent and subject
to the same limitations as if the assessment were against such bank;
but nothing herein contained shall be construed as laying such assess-
ment upon the bank rather than upon its stockholders.