Page:United States Statutes at Large Volume 47 Part 1.djvu/297

 72d CONGRESS. SESS. I. CH. 209. JUNE 6, 1932 . 273 "3 . Capital stock (and similar interests), sales or transfers : On MISCELLANEOUS TAXES all sales, or agreements to sell, or memoranda of sales or deliveries of ca pi tal stock, sales or tranfers agreements legal title to y any of the shares or certificates men- or transfers . tioned or described in subdivision 2, or to rights to subscribe for or to receive such shares or certificates, whether made upon or shown by the books of the corporation or other organizati on, or by any ass ign- ment in blank, or by any delivery, or by any paper or agreement or memorandum or other evid ence of transfer or sale (w hether entitling the holder in any manner to the benefit of such share, cer- tificate, interest, or rights, or not), on each $100 of par or face value or fraction thereof of the certificates of such corporation or other organization (or of the shares where no certificates were issued), 4 Rate. cents, and where such shares or certificates are without par or face sha res with out face value, the tax shall be 4 cents on the transfer or sale or agreement to value. sell on each share (corporate share, or investment trust or other PrOHSOR . organization share, as the case may be) : Provided, That in case Additional if selling the selling price, if any, is $20 or more per share the above rate pric e. $20 or more per sh ar shall be 5 cents instead of 4 cents : Provided further, That it is not Deposits as collateral intended by this title to impose a tax upon an agreement evidencing exempt. a deposit of certificates as collateral security for money loaned thereon, which certificates are not actually sold, nor upon the delivery or transfer for such purpose of certificates so deposited nor upon the return of stock loaned : Provided further, That the tax shall etB`okempt, deliveries, not be imposed upon deliveries or transfers to a broker for sale, nor upon deliveries or transfers by a broker to a customer for whom and upon whose order lie has purchased same, but such deliveries or transfers shall be accompanied by a certificate setting forth the facts : Provided further, That the tax shall not be imposed up on Deliveries in trust. deliveries or transfers from a fiduciary to a nominee of such fiduci- ary, or from one nominee of such fiduciary to another, if such shares or certificates continue to be held by such nominee for the same pur- pose for which they would be held if retained by such fiduciary, or from the nominee to such fiduciary, but such deliveries or transfers shall be accompanied by a certificate setting forth the facts : Pro- . tamps placed on vided further, That in case of sale where the evidence of transfer corporation is shown only by the books of the corporation or other organization the stamp shall be placed upon such books ; and where the change of On certificates. ownership is by transfer of the certificate the stamp shall be placed upon the certificate ; and in cases of an agreement to sell or where On bill of sale. the transfer is by delivery of the certificate 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 affixed ; and Details required. every bill or memorandum of sale or agreement to sell before men- tioned shall show the date thereof, the name of the seller, the amount of the sale, and the matter or thing g to which it refers. Any Pimi•hment for sates person liable to pay the tax as herein provided, or anyone who acts without stamps. i n the matter as agent or broker for such person, who makes any such sale, or who in pursuance of any such sale delivers any certificate or evidence of the sale of any stock, share, interest or right, or bill or memorandum thereof, as herein required, without having the proper stamps affixed thereto, with intent to evade the foregoing provisions, shall be deemed guilty of a misdemeanor, and upon conviction thereof shall pay a fine of not exceeding $1,000, or be imprisoned not more than six months, or both ." (b) Subsect ion (a) shall ta ke effect on the fifteenth day a fter the rllectlvedatee date of the enactment of this Act . (c) Effective July 1, 1934, such subdivision 3, as amended by sub- J Tar rate ~e ffe cti ve section (a) of this section, is amended by striking out "4 cents" wherever appearing in such subdivision and inserting in lieu thereof 305 1'-33-18