shall fail or neglect to pay its State taxes so due as aforesaid, for the space of two years after the same shall be in arrears, such failure and neglect shall be deemed to amount to and shall constitute a forfeiture of the charter of such corporation and such charter shall be decreed to be so forfeited and annulled ipso facto. Bonus on Capital Stock. 1890, ch. 536, sec. 88A. 1894, ch. 114, sec. 88F. 98. Every corporation incorporated after the twenty-first day of March, 1894, under any general or special law of this State, except cemetery companies, companies created for purely benevolent and charitable purposes, railroad companies and building or homestead associations incorporated under Article twenty-three of the Code of Public General Laws, title "Corporations," sub-title "Provisions for the Formation of Corporations," Section 20 (class 5), shall pay to the State Treasurer for the use of the State a bonus of one-eighth of one per centum upon the amount of capital stock which said company is authorized to have, and a like bonus upon the amount of any subsequent increase of capital stock the company is authorized to have; said bonus upon the original capital stock shall be due and payable upon the incorporation of said company, and upon the increase upon the recording of the certificate of such increase or the passage of any special act authorizing such increase; and no company as aforesaid which shall be incorporated after the 21st day of March, 1894, shall have or exercise any corporate powers until said bonus has been paid to the State Treasurer. Whenever any company of the character aforesaid, incorporated prior to said date, shall be authorized to increase its capital stock, it shall pay a tax of one-eighth of one per centum to the State Treasurer for the use of the State upon the amount of increase said company is authorized to have; said bonus shall be due and payable upon the recording Art. 81, sec. 98-Stock subscriptions invalid until bonus tax is paid. The acceptance of a dividend is a ratification of a subscription to stock made prior to the payment of the bonus tax. Murphy v. Wheatley, 102 Md. 501. of the certificate of increase authorized, or upon the passage of any special act authorizing such increase. Roland Park Co. v. State, 80 Md. 450. State v. Schultz Co., 83 Md. 62. 1894, ch. 114, sec. 88G. 99. If any corporation or company from which said bonus shall be due shall fail or neglect to pay the same to the Treasurer of the State for the space of two months after the same has been due and payable as aforesaid it shall be the duty of the Comptroller to make out said account against such corporation and certify the same under the seal of his office and transmit the same to some attorney in whom he has confidence and to cause suit to be brought for the recovery of said bonus; but no acquittance shall be good to discharge such corporation from such bonus, but the receipt of the Treasurer of the State or the proper officer to whom execution on judg ment may issue. 1894, ch. 144, sec. 88H. 100. Suit for the recovery of such bonus shall be brought in the county where the incorporation papers of such corporation are recorded or where the principal office of such company is located, or in the city of Baltimore if the incorporation papers of such company are there recorded, or the principal office of such company is there located, and the service of the writ of summons upon any officer or agent of such company or upon any stockholder or incorporator in such company shall be deemed and taken as sufficient service on such corporation upon the return of the writ issued against such corporation; and such corporation being summoned as aforesaid the cause shall stand for trial or hearing according to the laws and the respective rules of courts of this State, and if judgment shall be rendered against such corporation a fee of ten dollars shall be allowed the attorney for the State to be taxed in the plaintiff's costs. 1894, ch. 144, sec. 881. 101. If, after suit brought and judgment rendered as aforesaid, any corporation from which said bonus shall be due as Art. 81, sec. 101-Forfeiture of charter for non-payment of bonus tax is not a self-executing provision. Murphy v. Wheatley, 102 Md. 501. aforesaid shall continue in arrears and shall fail or neglect to pay said bonus to the State Treasurer, for the space of two years after the same shall be so in arrears, such failure and neglect shall be deemed to amount to and shall constitute a forfeiture of the charter of such corporation, and said charter shall be decreed to be so forfeited and annulled ipso facto; and any and all corporate powers exercised by any such building or homestead association formed after January 1, 1890, and prior to the 21st day of March, 1894, are hereby given validity and full force. Ibid. sec. 88J. 102. The certificate of the Comptroller, under the seal of his office, shall be prima facie evidence of the amount of bonus due as aforesaid, to entitle the State to judgment for said bonus and costs of suit. 1894, ch. 114, sec. 2. 103. No corporation incorporated prior to the 21st day of March, 1894, shall in any manner be relieved or released from the payment of any bonus due and owing by it or which shall have become due and payable by it prior to such date, under the provisions of Chapter 536 of the Acts of the General Assembly of Maryland of the year 1890, excepting, nevertheless, such classes of corporations as will be exempt from the operation of the five preceding sections, which said classes of corporations heretofore formed shall be exempt from the operation of said five sections in like manner as such classes of corporations hereafter to be formed. Assessment for State Taxes of Stock of Public and Private Corporations. Ibid. sec. 96. 1860, art. 81, sec. 105. 1853, ch. 248, sec. 4. 1874, ch. 483, sec. 97. 1896, ch. 143, sec. 201, post secs. 148-162. 111. The public debt of this State, stock loans of the city of Baltimore, the capital stock and bonds, certificates or other evidences of debt, bearing interest, issued by incorporated companies or institutions of this State, shall be assessed for purposes of State taxes as herein provided. State v. Mayhew, 2 Gill, 487. Barney v. State, 42 Md. 480. 1908, ch. 695. 117. All estates, real, personal and mixed, money, public and private securities for money of every kind passing from any person who may die seized and possessed thereof, being in this State, or any part of such estate or estates, money or securities, or interest therein, transferred by deed, will, grant, bargain gift or sale, made or intended to take effect in possession after the death of the grantor, bargainor, devisor or donor, to any person or persons, bodies politic or corporate, in trust or otherwise, other than to or for the use of the father, mother, husband, wife, children and lineal descendants of the grantor, bargainor or testator, donor or intestate, shall be subject to a tax of five per centum in every hundred dollars of the clear value of such estate, money or securities; and all executors and administrators shall only be discharged from liability for the amount of such tax, the payment of which they be charged with, by paying the same for the use of this State, as hereinafter directed; provided, that no estate which may be valued at a less sum than five hundred dollars shall be subject to the tax imposed by this section. Assessment of Corporate Stock Owned by Non-Residents. Ibid. sec. 131., 1852, ch. 337, sec. 17. 1866, ch. 157, sec. 14. 147. For the purpose of valuing the stock of banking and other private corporations held by non-resident stockholders, it is hereby declared and understood that the stock of banking, insurance or other corporations usually termed moneyed institutions is situate at the place at which the principal office for the transacting the business of such corporation is situate; the stock of a turnpike, railroad, steamboat, canal or other improvement corporation is situate at the place where its principal office for the transaction of business shall be established, if the said office be within the limits of this State, and shall be so assessed, and if not, then the assessable property of such corporation shall be valued and assessed in the county or counties in which said property is situate, and in the city of Baltimore so far as it is situate in said city; and the stock of mining, manufacturing and other like corporations situate at the place where the works of such corporation, or the greater part of their operations, respectively, shall be conducted, shall be assessed in like manner in the county or city where such works are situate. O'Neal v. Va. & Md. Bridge Co., 18 Md. 1. M. & C. C. v. City Pass. R. Co., 57 Md. 35. American Coal Co. v. Co. Commrs., 59 Md. 185. Consumers' Ice Co. v. State, 82 Md. 136. Casualty Co.'s Case, 82 Md. 564. Baldwin v. Washington Co., 85 Md. 157. State v. Safe Deposit Co., 86 Md. 582. Salisbury Asso. v. Wicomico Co., 86 Md. 617. State Tax Commissioner. 1888, art. 81, sec. 132. 1874, ch. 483, sec. 145. 1878, ch. 178. 148. There shall be in the Treasury Department a Tax Commissioner of the State, to be appointed by the Governor, Comptroller and Treasurer, or a majority of them, who shall take the oath prescribed by the Constitution and shall hold his office, for four years from the date of his qualification and until the appointment and qualification of his successor, and shall receive a salary of twenty-five hundred dollars per annum, and such necessary traveling expenses (not exceeding eight hundred dollars in any one year) as may be audited by the Comptroller, who shall issue his warrant for the payment of the same when allowed. The State Tax Commissioner shall on or before the fifteenth day of May in each year, assess for State purposes the shares of capital stock in all banks, State or national, banking associations or other incorporated institutions or companies incorporated under the authority of this State, or located and doing business therein, whose shares of capital 'stock are liable to assessment and taxation by the laws of this State; he is authorized and empowered to examine upon oath any officer of the same touching the affairs thereof, or to examine upon oath any other person as a witness who he may be advised has important information in regard to the value of such shares of capital stock; and any such officer refusing to answer upon oath touching the affairs of such bank, banking association or company, of which he is an officer, shall, on indictment and conviction thereof, be fined not less than five hundred dollars; he shall report the assessment of such shares of capital stock to the Comptroller, and said |