Chap. 642.—An ACT to authorize and empower the auditor of public accounts
to collect taxes heretofore assessed upon bank stock held by resident and
non-resident stockholders.

Approved March 3, 1896.

1. Be it enacted by the general assembly of Virginia, That the
holders of bank stock or the stock of any banking association doing
business in this state, resident and non-resident, shall be assessed
with the tax imposed thereon by law in the city, town or district
wherein the bank or banking association is located, and said tax
shall be the first lien upon said stock, no matter in whose hands
found, and have priority over any and all liens by deed of trust,
mortgage, bill of sale, or other assignment made by the owner, and
take priority over all liens by execution, garnishment, or attachment
process.

2. It shall be the duty of the auditor of public accounts, as soon
as practicable after the passage of this act, to furnish the cashier of
the banks or banking associations doing business in this state with
a list of its stockholders heretofore assessed with taxes upon their
bank stock who have not paid said tax, which list shall give the
name of the stockholder, amount of tax, when assessed, and the sum
total due to the commonwealth by each stockholder. The bank or
banking association thus notified, should said bank or banking asso-
ciation so desire and elect, may pay to the auditor the tax assessed
upon the stock held by its stockholders; provided payment shall be
made on or before the first day of July, eighteen hundred and ninety-
B1X.

3. But should the privilege conferred by the preceding section be
declined or not availed of by the bank or banking association afore-
said, then it shall be the duty of the auditor without delay to notify
the attorney-general and give him a copy of the lists furnished the
cashier of the bank or banking association aforesaid, and the attor-
ney-general, by motion, shall proceed to collect said taxes from the
individual stockholder. This motion shall be cognizable by and
made in the circuit court of Richmond city after ten days’ notice to
the stockholder, and may be served upon non-resident defendants in
the mode provided by section thirty-two hundred and eight of the
code of Virginia.

4, This act shall be in force from its passage.