Page:United States Statutes at Large Volume 44 Part 1.djvu/1986

 §901 FTITLE 26.-·-INTER suhscribe for or to receive such shares or certihcates, whether e made upon or shown by the books of the corporation, or by any 1 assignment in blank, or by any delivery, or by any paper or _1 agrcexnent er memorandum or other evidence ot transfer or 1 sale. whether entitling the holder in any ·manner to the beneilt : of such stock, interest. or rights, or not, on each $100·0f face 4 value or fracgsion thereof, 2 cents, and where such share; are a witlmut par or face value, the tax shall be 2 cents 011 the trans- a fer or sale or agrement to sell on each share: Provided, That _. it is not intended by this title ‘° to impose a tax upon an- 4 agreement evidencing n `deposit of (‘9l‘tiHC&téB_ as collateral. · security for money loaned thereon, which certihcates are not 3 actually sold, nor upon the delivery `or transfer for such pur- l pose of certiiicates so deposited, nor upon mere loans of stock nor upon the return of stoekso loaned : -Prov•k1cd. further, That the tax shall not be imposedc upon deliveries or transfers to a_ broker for sale, nor upon. deliveriesl or transfers by`8·b1‘0kQl?— to a customer forwhom and upon whose order he haepurclmsed _ same, but such deliveries or transfers shall be aécomD¤¥lie<1~ by a certificate setting forth the facts:`Propided further, That ‘ in ease of sale where the evidence of transfer is shown only by the books of the corporation. thestump shall be placed upon. couch hooks; end where the changeof owtnership is by transfer _ ot the certiucate the stamp shall be placedupon the certificate;-_ ` and in cases of an agreement to sell or where the transfer is by delivery of the certiilcate assigned in blank there shall be made and delivered by the seller to the buyer a bill or memorandum. of such sale, to which the stamp._shall be adixed ;. and every hill or memorandum of sale or agreement to »sell-before, men? tionod shall show the date thereof, the name 0t_ the seller. the amount. of the sale,`xmd the matter or thing to which it refers. Any personliable to pay the tax as herein provided, or anyone who acts in the matter as agent or- broker for such person, who makes ani such sale, or who in pursuance of any such 'sale delivers =my_certiilcate or evidence of the sale of any stock, interest 'or right, or bill ·or memorandum thereof, as herein required, without having the proper stamps alhxed thereto, jwith intent to evade- the, foregoing provisions. “ shall be deeqed guilty of a misdemeanor, and upon conviction thereof shall pay a due or not exceeding $1,000, or be imprisoned not more than six months,,or both. . " _(4) Sales on exchange for future d8Hv0!‘1I.¥;PfodllQB, éales ot, on exchange: Upon eachsale, agreement ot sale, or agreement to sell (not including socalled transferred or scratch sales), ° any productsor merchmdlse at, or under the rules of usages of,- eny exchange, or board, of trade, or other. similar place, for future delivery, for each $100- in value of the ” merchandise eovered_hy said ale or agreement of sale or agreement to sell, 1 cent, and for each additional $100 or fractional partthereof tin excess ot $100, ,1 cent: Provided, That _.on every sale- or , agreement of sale or apreement to sell as atolmald there Shall t he made and delivered hy the seller to the bujer a bill, memorandum, agreement, or other evidence `ot such sale, _ agreement of sale, or agrement to sell, to which there shall-be a¤xed`• lawful stamp or stamps ln value equal to the amount ot the, tax on such Sale: Provided further, That sellers ot commodi-,‘_ tics dwcrlbed herein, having 4-paid the tax provided `by this subdivision, may transfer su&_ contracts to a clearlghouse _ corporation or association, and such transfer shall not jbe deemed to be a_ sale, or ¤g¢eeme¤,¢_ ot sale, or an agreement. to sell within the prowfiaons of this Ad:. Dwvided that transfer shall - not vest any benehclal interest in such 'clwrlng ehouse mclation but. shall be made for the solo  of enabling-such clmringhouse as?ntion toadjuu. and balance the accounts ot the members ot uch clearinghouse meexautoo onlthelr several contracts. Every such bill, memorandum, or •*“ This tltle " constitutes chapter 18* of thixsupplengentnl title, l, •'* *‘This Act," is set out throughout this supplements.] title,

{NAL REVENUE 1972 other evidence of sale or agreement to sell shall show the date thereof, the name of the seller. theamount of the sale, and the matter or thing to which it refers; and any l¤*2r's0n·liable to pay the tax as herein provided, or anyone who acts in the matter as agent =or' broker for such person, who makes any such sale or agreement of sale, or agreement to sell, or who, ln pursuance of any such wie, agreement of sale, or agreement to sell, delivers any such products or merchandise without a` bill, memorandum,. or other evidence thereof as herein required, or_who delivers such bill, memorandum, orother evidence of sale, or agreement to sell, without having the proper stamps amxed theretmwith intent to evade the foregoing provisions, sh'all be deemed guilty of. a misdemeanor, and upon conviction thereof shall pay a_ time of not exceeding $1,000- or be imprisoned .n0t" more than six months, or both. P · . `V ”  ` No bill, memorandum, agreement, or other evidence of such sale, or agreement of sale, or agreement to-sell, in case of cash sales of `products or merchandise for immediate or prompt ’ d`élivcry· which in good faith are . actually iintendod to he delivered shall be subject to this tax. - ‘ _ A This subdivision shall not affect but shall be fn additionto the provisions of the ‘*f United States cotton futures. A<·t," "* approved Angustll, 1916.,as amt~m1ec,,a¤u “The Future Trading Act," f' approved August. 24, 1921, · ’  _ - _(8) Passage tickets to ports not in United Stotés, Canada, or. Mexico.-—5. Passage ticket, one way or r0und·trip,..tor each passenger,. sold or issued in the United States for mssage by anyycssel to export or- place not in the United States, Canada, or Mexico, if costing not exceeding $30, $1; costing more than $30 and notezgceeding $60,53: costing more than $89, $5. This subdivision shall not apply to pixssage tickets costing $10 or less., " (11) Playing cords.-8; Playing cards? Upon everypack of playing cardscontainlng not more than ~ilft·y·four cards, mannfactured or imported, and sold, or removed for consumption or sale, a tax of10 cents per pack. p T . o T · » _(-L2) Inatiranoe poliolcs.-7. Qu each policy of lnsn nce, or certificate, blndem covering note, metnorandnm, cabl m, letter, or other lnstrument by whatever name called ‘ hereby in surance is inade or renewed upon property within c United States (including rents and pronts) against peril by ‘ or on inland waters or in transit on land (including {transshipsnents and storage at termini or way points) or by nre, lightning, tornado, wlndstorm,. mmm-oraent, invasion, lnsurrection or riot, _ issued to or for or ln the name of a dommtlc corporation or rtnershlp or an individual resident of the United States byxiiy foreign corporation or partnership or anyfindiyidual not a resident of the United" Statestwhcn such policy- or other lmtrtnnent is not signed or countersigned by an onlcer or agent of the insurer ln a State, Terrltilfyt or District of the United States within which such insurer is Qanmorlxed to do hnslncss, a tax ot 3 cents on each dollar, or fractional part thereof of the premium charged: Provided, That pollcleabt reinsurance shall be exempt from theta: imposed thy this subdivision. _ {· Any personfto or for whom or ln whose name any such policy or other instrument is-iwued, or any solicitor or broker acting for or on behalfof such person in the proc¤rexnent.of·any such _ `policy or other instrument, shall amrthe proper stamps to such policy orother instrument, and for failure to. amx such stamps with intent to evadethe tax shall, in addition to other penalties provided therefor, pay”a nne of double the amount of the tux. (Feb. 26, 19%, c. 27, § 800,_Sched. A, 44 Stat. 99, 101.)` _ See note at beginning- ot this chapter. _ ` •*The,United States Cotton-'Futnres Act, constitutes, M 731 to 752. inclusive, of Title 26, Izrrnamn Ravenna. . _ ‘ ' *•’1?hg F¤ture.'1‘rading.Aet was held unconstitutional ln Hill v. Wal: lace, 259 U, 8. 44, 8. Ct. 168 mem.: 65 UJS., (8 cd.). A ncw_A;ct kn0W¤ as the Grain Futures Act (Act ot sept. 21, IDQ-2, c. 369) constitutes · Chapter 1 of Title 7, Aoaxcvnruan. .·