Page:United States Statutes at Large Volume 30.djvu/494

FIFTY-FIFTH CONGRESS. Sess. II. Ch. 448. 1898. 455 otherwise duly proven to the satisfaction of the collector, shall, within twelve calendar months after the making or issuing thereof, be brought to the said collector of internal revenue to be stamped, and the stamp tax chargeable thereon shall be paid, it shall be lawful for the said collector to remit the penalty aforesaid and to cause such instrument to be duly stamped. And when the original instrument, or a eertined or duly proven copy thereof, as aforesaid, duly stamped so as to entitle the sametobe recorded, shall be presented to the clerk, register, recorder, or other officer having charge of the original record, it shall be lawful for such ofllcer, upon the payment of the fee legally chargeable for the recording thereof, to make a new record thereof, or to note upon the original record the fact that the error or omis- , sion in the stamping of said original instrument has been corrected pursuant to law; and the original instrument or such certified copy, or the record thereof, may be used in all courts and places in the same manner and with dlike e51g2t-jas thehinstrumgnt had bleen . origin' all stamped: Aa provi art , at in a cases w ere Uwnmpcd immthe party has not affixed the stamp required by law upon any such °$,}'t’,E,',f,°}‘,j’ instrument issued, registered, sold, or transferred at a time when and :¤l>1i¤¤·¤- _ at a place where no collection district was established, it shall be law- ;,:,f*1{*”8 P*°P" ful for him or them, or any party having an interest therein, to affix the _ proper stamp thereto, or, if the original be lost, to a copy thereof. But “g*"*‘ "°" no right acquired in good faith before the stamping of such instrument, or copy thereof, as herein provided, if such record be required by law, shall in any manner be affected by such stamping as aforesaid. Sec. 14. That hereafter no instrument, paper, or document required m,§'{d°”’;;“*°§,*gm•j; by law to be stamped, which has been signed or issued without being until sample. duly stamped, or with a deficient stamp, nor any copy thereof, shall be recorded or admitted, or used as evidence in any court until a legal stamp or stamps, denoting the amount of tax, shall- have been amxed thereto, as prescribed by law: Provided, That any bond, debenture, £,’£‘•¤,£g omni certificate of stock, or certificate of indebtedness issued in any foreign mines, gu. g" country shall pay the same tax as is required by law on similar instruments when issued, sold, or transferred in the United States; and the · party to whom the same is issued, or by whom it is sold or transferred, shall, before selling or transferring the same, aiilx thereon the stamp or stamps indicating the tax required. Sec. 15. That it shall not be lawful to record or register any instru- “f_3<;2{:gh;*;h*g_· ment, paper, or document required by law to be stamped unless a stamp or stamps of the proper amount shall have been affixed and canceled in the manner prescribed by law; and the record, registry, or transfer of any such instruments upon which the proper stamp or stamps aforesaid shall not have been affixed and canceled as aforesaid shall not be used in Svidencein d ‘ d b - nc. 16. at no instrument, paper, or ocument require y law to 1¤¤¢=¤¤¤¤¤¢ ¤¤¢ i¤· be stamped shall be deemed or held invalid and of no effect for the want ;A°iifi$iii°:;f°{d.°i1° iii of a particular kind or description of stamp designated for and denoting ******1*- the tax charged on any such instrument, paper, or document, provided a legal documentary stamp or stamps denoting a tax of equal amount shall have been duly affixed and used thereon. _ Sec. 17. That all bonds, debentures, or certificates of indebtedness s,f_f;“,g’;;‘;f'° "°"' issued by the officers of the United States Government, or by the officers of any State, county, town, municipal corporation, or other corporation exercising the taxing power, shall be, and hereby are, exempt _ hom the stamp taxes required by this Act: Provided, That it is the __f;Q‘;‘{"‘ intent hereby to exempt from the stamp taxes imposed by this Act such State, county, town, or other municipal corporations in the exercise only of functions strictly belonging to them in their ordinary gov- _ _ — ernmental, taxing, or municipal capacity: Provided farther, That stock "'“'“‘°" ""°”'“’“°“" and bonds issued by cooperative building and loan associations whose capital stock does not exceed ten thousand dollars, and building and loan associations or companies that make loans only to their shareholders, shall be exempt from the tax herein provided.