Page:United States Statutes at Large Volume 49 Part 1.djvu/2075

 2030 Capit al stock, sales or transfers. Rate of tax on. Where shares with. out par value. Provisos. If selling price $20 or more per share. Deposits as collat- eral. Del iveri es to brok - ers, etc. Deliveries by broker to customer for who m stock purchased. Deliveries by broker to reg is te red nominee. Deli veries from fi du- ciary to nominee, etc. Stamps placed up on corporation books . On certificates. On bills of sale. Details required. Penalty for sa les without st amps. 74TH CONGRESS. SESS. II. CH. 865. JUNE 29, 1936. "'3 . CAP IT AL STOCK (A ND SIMILAR INTERESTS), SALES OR TRANS- h'ER s.-On all sales, or agreements to sell, or memoranda of sales or deliveries of, or transfers of legal title to any of the shares or cert ificat es men tione d or d escrib ed in subdi vision 2, or to r ights to subscribe for or to receive such shares or certificates, whether made upon or shown by the books of the corporation or other organization, or by any assignment in blank, or by any delivery, or by any paper or agreement or memorandum or oth er evidence of transfer or sale (whether entitling the holder in any manner to the benefit o f such share, certificate, interest, or rights, o r not), on each $100 of par or face value or fraction thereof of the cer- tificates of such corporation or other organization (or of the shares where no certificates were issued) 4 cents until July 1, 1937, and 2 cents thereafter, and where such shares or certificates are without par or face value, the tax shall be 4 cents until July 1, 1937, and 2 cents thereafter, on the transfer or sale or agreement to sell on each share (corporate share, or investment trust or other organiza- tion share as the case may be) : Provided, That in case the selling price, if any, is $20 or more per share the above rate shall be 5 cents instead of 4 cents until July 1, 1937 : Provided further, That it is not intended by this title to Impose a tax upon an agreement evidencing a deposit of certificates as collateral security for money loan ed the reon, which certi ficate s are not a ctuall y sold, nor upon the delivery or transfer for such purpose of certificates so deposited nor upon the return of stock loaned : Pr ovid ed fur ther , That the tax shall not be imposed upon deliveries or transfers to a broker or his registered nominee for sale, nor upon deliveries or transfers by a broker or his registered nominee to a customer for wh om and upon whose order the broker has purchased same, nor upon deliv- eries or trans fers by a purchasing broker to his registered nominee if the shares or certificates so delivered or transferred are to be held by such nominee for the same purpose as if held by the broker, but such deliveries or transfers shall be accompanied by a certificate setting forth the facts : Provided further, That the tax shall not be imposed upon deliveries or transfers from a fiduciary to a nom- inee of such fiduciary, 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 po se for which th ey would be he ld if retained by such fiduciary, or from the nominee to such fiduciary, but such deliveries or transfers shall be accompanied by a certifi- cate setting forth the facts : Provided further, That in case of sale where the evidence of transfer 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 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 the transfer is by delivery of the certificate assigned in blank there shall be made and delivered by the seller to the buyer a bi ll or memorandum of such sale, to which the stamp shall be affixed ; and every bill or memorandum of sale or agreement to sell before mentioned shall show the date thereof, the name of the seller, the amount of the sale, and the matter or thing to which it refers. Any person liable to pay the tax as herein provided, or anyone who acts in the matt er as agent or broker for such person, who makes any such sale, or who in pursu- ance of any such sale delivers any certificate or evidence of the sa le of any s tock, share, inte rest o r righ t, or bill or mem orandu m thereof, as herein required, without having the proper stamps affixed thereto, wi th intent to evade the foregoing provisions, shall be deemed guilty of a misdemeanor, and upon conviction thereof shall