form by State Audi tor. required prescribe; and the State Auditor is authorized to require answers, under oath, to any questions he may put to the principal, or any 1b., 35, 22 other agent, of any of said companies in this State, and to examine any of such agents, under oath, relative to the property and affairs of such companies, and the management thereof, which oath he may administer; and, if any such agent shall refuse to submit to such examination, or refuse or neglect to answer any such questions, he shall be deemed guilty of contempt of the State Auditor, and the State Auditor may certify the fact to the Court of General Sessions of any County of this State, which shall issue a warrant for the arrest of such agent, in the name of the State of South Carolina, directed to the Sheriff of such County, who shall arrest such agent anywhere in this State, and take him before said Court of General Sessions, and, upon hearing and conviction, such agent shall be fined by said Court in any sum not exceeding five hunfor failure to an dred dollars and costs, and be confined in the jail of the County where tried until such fine be paid, and answers be given to all such questions as the State Auditor may propound to him. Punishment swer questions of Aud.tor. Foreign Su'auce In agents shall make re turns. 1871. XIV, 620, 6. Insurance Companies. SEC. 26. Each agent in this State of any insurance company organized under the laws of any other State or country, and doing business in this State, shall, annually, in the month of July, or In 37, § 23: before twentieth of August, return to the Auditor of the County in which such agency is located a sworn statement of the gross receipts of such agency for the year ending on the first day of that month. including all notes, accounts and other things received or agreed upon as a compensation for insurance at such agency, together with all the value of any personal property of said company situate at such agency; and the company shall be charged with taxes, at the place of said agency, on the amount so returned; and the agent shall also be personally responsible for such taxes, and may retain ay responsible in his hands a sufficient amount of the company's assets to pay the same, unless the same shall be paid by the company. Agent personfor taxes. to SEC. 27. Every insurance company, organized under the laws of State Insurance this State, shall return all its personal property, moneys, credits, Compaties (including notes taken on subscriptions of stock,) investments in where principal bonds, stocks, securities and assets of every kind, for taxation, at the Iu., § 25, (A) place where its principal office is located. make returns office is. Corporations and companies owning property in and out of only property Companies and Corporations. State to return SEC. 28. Any company or corporation, organized under the laws in the State for of this State, and owning property in any other State or country, as well as in this State, shall not be required to return its capital for t xation. 10., § 24. taxation in this State, but shall return such property as it owns in this State, and such proportion of the value of its other property as, if owned by individual residents of this State, would be taxable in this State; and if such return be made by such company, the shareholders therein shall not be required to return their shares for taxation. SEC. 29. A corporation organized under the laws of this State, property in the but owning no property in this State, shall not be required to return turn for its capital for taxation in this State. SEC. 30. All companies and corporations, whether organized under the laws of this State or not, the manner of listing whose personal property is not otherwise specifically provided for by law, shall list for taxation all their personal property and effects at the same time, in the same manner and in the same localities as individuals are required to list similar property and effects for taxation. Having no State, not to re tion. Ib., § 25. taxa companies and scaly profor to Corporations not make returns e in "isuals. Ib., § 26, (B.) Comp nies un ters of this and an the State: how taxed. SEC. 31. Any company incorporated under a joint charter granted der jint charby this and some other State or States, and the manner of taxing which, or the amount upon which it shall be taxed, or the specific 1b., 27. proportion of its capital or property upon which taxes, shall be assessed in South Carolina is prescribed or fixed in its charter shall be assessed for taxation, and taxed as prescribed in this charter until otherwise legally provided. Banks and Banking Associations. SEC. 32. All shares of the stockholders in any bank or banking association, located in this State, whether now or hereafter incorporated or organized under the laws of this State or of the United States, shall be listed at their true value in money, and taxed in the city, ward, town or incorporated village where such bank is located, and not elsewhere. Bark stock to be listed at true value in money, and taxed where kecated. SEC. 33. The real estate of any such bank or banking association shall be taxed in the place where the same may be located, the w same as the real estate of individuals. SEC. 34. There shall, at all times, be kept in the office where the business of such bank or banking association is transacted, a full and correct list of the names and residences of the stockholders therein, and the number of shares held by each, which shall be at all times, during business hours, open to the inspection of all officers who are, or may be, authorized to list or assess the value of such shares for taxation. I., § 28. Real estate of taxed where located. Ib., 38, 29. Banks shall keep a list of residence of each to be open to in stockholders and pection of rev enue officers. Ib., § 30. President and Cashier of bank return to County Auditor SEC. 35. It shall be the duty of the President and Cashier of every such bank or banking association, between the first of July to and twentieth of August, annually, to make out and return, under names and res oath, to the Auditor of the County in which such bank or banking association be located, a full statement of the names and resimay dences of stock holders. Ib., 231; 1871, XIV, 620, 6. County Audi of stock value of bank and tax re mainder. Ib., § 32. dences of the stockholders therein, with the number of shares held by each, and the actual value, in money, of such shares, together with a description of the real estate owned by said bank. tor to d d ct SEC. 36. The Auditor of the County in which any such bank or from tot va u banking association may be located, upon receiving the return proreal estate of vided for in the thirty-fifth Section of this Chapter, shall deduct from the actual total value of the shares in any such bank or banking association, the appraised value of the real estate owned by such bank or banking association, as the same stands assessed on the duplicate, and the remainder of the total value of such shares shall be entered on the duplicate of the County, in the names of the owners thereof, in amounts proportioned to the number of shares owned by each, as returned on said sworn statement, and be charged with taxes at the same rate as charged upon the value of other personal property, at the place where such bank or banking association is located. Taxes assessed on bank stock to remain a lien till tice rott an-fer paid. 620, 7. SEC. 37. Any taxes assessed on any such shares of stock, or the pad. After no value thereof, in manner aforesaid, shall be and remain a lien on able till taxes such shares from the first day of July, in each year, until such Ib. 753; 1871, taxes are paid; and, in case of the non-payment of such taxes, at the time required by law, by any shareholder, and after notice received of the County Treasurer of the non-payment of such taxes, it shall be unlawful for the Cashier, or other officer of such bank or banking association, to transfer, or permit to be transferred, the whole, or any portion, of said stock, until the delinquent taxes thereon, together with the costs and penalties, shall have been paid in full; and no dividend shall be paid on any stock so delinquent so long as such taxes, penalties and costs, or any part thereof, remain due or unpaid. Bank may pay taxes on shares. Ib., 54. Stock not re ty Auditor, he SEC. 38. It shall be lawful for any such bank or banking association to pay to the Treasurer of the County in which such bank or banking association may be located the taxes that may be assessed upon its shares, as aforesaid, in the hands of its shareholders, respectively, and deduct the same from any dividends that may be due, or may thereafter become due, on any such shares, or deduct the same from any funds in its possession belonging to any shareholder, as aforesaid. SEC. 39. If any bank or banking association shall fail to make turned to Coun- out and furnish to the County Auditor the statement required ex mine by the 35th Section of this Chapter, within the time required herein, it shall be the duty of said Auditor to examine the books of said bank or banking association; also, to examine any officer or agent thereof, under oath, together with such other persons as he may deem proper, and make out the statement required by said 35th Ib., 39, 36. Section, and enter the value of said shares on the duplicate for taxation. for Penalty failing to make Auditor. Any bank officer failing to make out and furnish to the County Auditor the statement, or willfully making a false return to County statement, as required in the 35th Section of this Chapter, shall be liable to a fiue not exceeding one hundred dollars, together with all costs and other expenses incurred by the Auditor, or other proper officer, in obtaining such statement aforesaid. SEC. 40. All unincorporated banks and bankers shall, annually, between the first of July and thirtieth of August, make out and return to the Auditor of the proper County, under oath of the owner or principal officer or manager thereof, a statement, setting forth: 1st. The average amount of notes and bills receivable discounted or purchased in the course of business by such unincorporated bank, banker or bankers, and considered good and collectable. 21. The average amount of accounts receivable. 3d. The average amount of cash and cash items in possession or in transit. 4th. The average amount of all kinds of stocks, bonds or evidences of indebtedness held as investment, or in any way representing assets. 5th. The average amount of real estate, at its assessed value for taxation. 6th. The average amount of all deposits made with them by other parties. 7th. The average amount of accounts payable, exclusive of current deposit accounts. 8th. The average amount of Government and other securities, specifying the kind that are exempt from taxation. 9th. The amount of capital paid in, or employed in such banking business, together with the number of shares or proportional interest each shareholder or partner has in such association or partnership. Banks and bankers to make and return state- ment to County which asses Ib., 237; 1871, XIV, 620, 8. From the aggregate sum of the first five items above enumerated, the said Auditor shall deduct the aggregate sum of the fifth, sixth, seventh and eighth items, and the remainder thus obtained shall be entered on the duplicate of the County in the name of such bank, banker or bankers, and taxes thereon shall be assessed and paid, the same as is provided for other property as assessed and taxed in the same city, ward, town or incorporated village. obtained by adSEC. 41. The average provided for in the preceding Section shall and dividing by be obtained by adding together the amounts of each item above months. specified, owned by or standing on the books of such bank, banker, 38: 1971, Average to be ding amounts number o f XIV, 620, 9. or bankers, on the first day of each month of the year ending the last day of June in the year in which the return is made, and dividing the same by the number of months in the year: Provided, That in cases where such bank, banker or bankers commenced business during the preceding year, the division shall be made by the number of months elapsed after the commencement of such business: Provided, That all fractions of a month shall be counted as a month. SEC. 42. Every company, association or person not incorporated stitute a bank, under any law of this State, or of the United States, for banking purposes, who shall keep an office or other place of business, and engage in the business of lending money, receiving money on deposit, buying and selling bullion, bills of exchange, notes, bonds, stocks, or other evidences of indebtedness, with a view to profit, shall be deemed a bank, banker or bankers, within the meaning of the fortieth and forty-first Sections of this Chapter. What shall con banker or bankers. Ib., 40, 39. Power of to enforce returns.. County Audi power in refer as individua.s, &c. Ib., § 40. SEC. 43. The County Auditor shall have the same powers to enCounty Auditor force correct returns from bank officers and bankers, to examine witnesses and enforce their attendance, and have the same aid of tor to have some the Court of General Sessions of the County, as is provided by law eace to bankers in cases where individuals fail to list their property for taxation, or are suspected of having made false returns; and in all cases of failure to make returns under this Chapter, or in a case of a false return, by any unincorporated bank, banker or bankers, the Auditor shall ascertain the true amount, as near as may be, add fifty per cent. penalty thereto, and charge the party or parties with the taxes Penalty for on the amount so ascertained by him, with the penalty aforesaid; but in cases of unintentional mistake in making the return, the true amount only shall be charged against the parties, without penalty. false returns. Pawnbrokers to the County Auditor Ib., § 41: 1871, XIV, 620, 1871, XIV, 023, ? 1. Pawnbrokers and Miscellaneous Provisions. SEC. 44. Every pawnbroker, person, or company, engaged in the to make returns business of receiving property on pledge, or as security for money or other thing advanced to the pawner or pledger, shall, annually, in the month of July, or before the thirtieth of August, return, under oath, to the Auditor of the County in which his place of business is located, the average monthly value of all property pawned or pledged to him during the year ending July first of the year in which the return shall be made, or, if engaged in the business for less than a year prior to said first day of July, then for such shorter period; and such average shall be ascertained by the rule prescribed in this Chapter for ascertaining the average value of the property of merchants, and taxes charged on such average value as upon other property at the same place. |