CHAPTER 132

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 66 OF THE REVISED CODE OF DELAWARE, 1935, RELATIVE TO "BANKS, SAVINGS SOCIETIES AND TRUST COMPANIES", 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 2317. Sec. 60, of Chapter 66 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 line of the second paragraph of said section, and by substituting in lieu thereof the following:

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

Section 2. That 2318. Sec. 61, of Chapter 66 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 2320. Sec. 63, of Chapter 66 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 2322. Sec. 65, of Chapter 66 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.