Chap. 201.—An ACT Providing for the Assessment of the Shares of Banks
or Banking Associations Authorized by the Laws of this State or cf the
United States, and Imposing a Tax Thereon. .

Approved March 28, 1871.

1. Be it enacted by the general assembly, That hereafter
no tax shall be assessed upon the capital of any bank or bank-
ing association, organized under the authority of this state or
of the United States; but the stockholders in such banks or
banking associations shall be assessed and taxed on the value
of their shares of stock therein, at the same rate that is as-
sessed upon other moneyed capital in the hands of individuals
residing in this state.

2. It shall be the duty of each assessor or commissioner of
the revenue, annually, to assess the share or shares of each
stockholder in the banks or banking associations as aforesaid ;
and it shall be the duty of each of such banks or banking as-
sociations forthwith to pay into the treasury of the state the
tax imposed by law upon such assessment of the shares afore-
said.

3. If such tax be not paid within thirty days after the assess-
ment of the said shares, the cashier of the bank or banking as-
sociation falling to make payment, and his sureties, shall be
liable for the same, and twenty per centum upon the amount,
to be recovered, on motion of the auditor of public accounts,
in the circuit court of the city of Richmond, according to the
second section of the forty-third chapter of the Code.

4, It shall be the duty of each assessor and commissioner of
the revenue to report to the auditor of public accounts the
name of each bank or banking association doing business in
his district, and the names of the officers thereof.

5. This act shall be in force from its passage.