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LAWS

OF THE

STA E OF NEW-YORK,

PASSED AT THE

EIGHTIETH SESSION

OF THE

LEGISLATURE,

BEGUN JANUARY SIXTH, AND ENDED APRIL EIGHTEENTH, 1857, IN THE
CITY OF ALBANY.

VOL. II

EXCELSIOR

ALBANY :

VAN BENTHUYSEN, PRINTER.

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Pursuant to the directions of the act entitled "An act relative to the publication of the Laws," passed April 12, 1843, I hereby certify that the following volume of the Laws of this State, was printed under my direction.

J. T. HEADLEY, Secretary of State.

In this volume, "every act which received the assent of three-fifths of all the Members elected to either House of the Legislature," pursuant to Section 14, of Article 7, of the Constitution of this State, is designated under its title by the words "Three-fifths being present." [See Laws of 1847, Vol. 1, Chap. 253.]

And every act which received the assent of two-thirds of all the Members elected to each branch of the Legislature," pursuant to Section 9, of Article 1, of the Constitution, is designated under its title by the words "By a two-third vote." [See Laws of 1842, Chap. 306.]

Capital

stock.

ment roll, and shall form a part of the moneys to be col-
lected by the collector.

§ 3. The capital stock of every company liable to taxa-
tion, except such part of it as shall have been excepted
in the assessment roll, or as shall have been exempted
by law, together with its surplus profits or reserved funds,
exceeding ten per cent of its capital, after deducting the
assessed value of its real estate, and all shares of stock in
other corporations actually owned by such company, which
are taxable upon their capital stock under the laws of
this
state, shall be assessed at its actual value, and taxed
in the same manner as the other personal and real estate
of the county.

§4. The deposits in any bank for savings which are

banks, &c. due to depositors, and the accumulations in any life insur-

ance company organised under the laws of this state, so

far as the said accumulations are held for the exclusive

benefit of the assured, shall not be liable to taxation, other

than the real estate and stocks which may be owned by

such bank or company, and which are now liable to taxa-

tion under the laws of the state.

Companies
and banks

pay.

§ 5. The twenty-first section of the said title is hereby

amended to read as follows:

The comptroller shall furnish the attorney general with
refusing to the names of all the companies and banks refusing or heg-
lecting to pay the taxes imposed on them, with the amount
due from them respectively, and the attorney general
shall thereupon file a petition in the supreme court against
every such company or bank, for the discovery and seques-
tration of its property.

tion.

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