CHAPTER 127

BANKS, SAVINGS SOCIETIES AND TRUST COMPANIES ASSESSMENT AND TAXATION OF SHARES OF CAPITAL STOCK OF BANKS AND TRUST COMPANIES HAVING CAPITAL STOCK

AN ACT TO AMEND ARTICLE 4 OF CHAPTER 6 OF THE REVISED CODE OF DELAWARE, 1935, RELATIVE TO "STATE REVENUE", PERTAINING TO THE ASSESSMENT AND TAXATION OF SHARES OF CAPITAL STOCK OF BANKS AND TRUST COMPANIES HAVING CAPITAL STOCK.

Be it enacted by the Senate and House of Representatives of the State of Delaware in General Assembly met:

Section 1. That 64. Sec. 30, of Chapter 6 of the Revised Code of Delaware, 1935, be and the same is hereby amended by striking out the words "capital, surplus, and undivided profits" in the fourth and fifth lines of said section, and by substituting in lieu thereof the following:

capital, surplus, undivided profits and reserves (excluding allocated reserves)

Section 2. That 65. Sec. 31, of Chapter 6 of the Revised Code of Delaware, 1935, be and the same is hereby amended by striking out the words "capital, surplus, and undivided profits" in the fourteenth and fifteenth lines of said section, and by substituting in lieu thereof the following:

capital, surplus, undivided profits and reserves (excluding allocated reserves)

Section 3. That 67. Sec. 33, of Chapter 6 of the Revised Code of Delaware, 1935, be and the same is hereby amended by striking out the words "capital, surplus, and undivided profits" in the twelfth and thirteenth lines of the first paragraph of said section, and by substituting in lieu thereof the following:

capital, surplus, undivided profits and reserves (excluding allocated reserves)

Section 4. That 69. Sec. 35, of Chapter 6 of the Revised Code of Delaware, 1935, be and the same is hereby amended by striking out the words "capital, surplus, and undivided profits" wherever they may appear in said section, and by substituting in lieu thereof the following:

capital, surplus, undivided profits and reserves (excluding allocated reserves)

Approved March 29, 1943.