1931_public laws_428_22
CHAPTER 427 AN ACT TO RAISE REVENUE. The General Assembly of North Carolina do enact: ARTICLE I SCHEDULE A INHERITANCE TAX
Foreign Executor or Administrator Transferring Stocks Shall Pay the Tax on Such Transfer. Whenever any foreign executor or administrator or trustee shall assign or transfer any bonds or stocks in this State standing in the name of the decedent, or in trust for a decedent, which shall be liable for this said tax, such tax shall be paid on the transfer thereof; otherwise the corporation permitting such transfer shall become liable to pay such tax. The Commissioner of Revenue is given authority to make appraisal of such stocks or bonds and settlement of taxes due under this section. Tax shall be computed as provided in this act, and receipt or waiver issued by the Commissioner of Revenue shall be complete protection to any such corporation for the transfer of such bonds and stocks.