PUBLIC LAWS-CH. 619-OCT. 21 , 1942 53 Stat. 196. 26 U.S. C ., Supp. I, 1802. 12U. .C .,Supp.I, (95a. 53 Stat. 424. 26U.S.C.§3481; Supp. I, § 3481. Posf, p . 960. the affairs, of any corporation, shall, for the purposes of this chapter, be deemed to be issued by the corporation." (b) TRANSFERS BY OPERATION OF LAW. - (1) Section 1802 (relating to the stamp tax on sales and trans- fers of capital stock) is amended by inserting at the end thereof the following new subsection: "(c) TRANSFERS BY OPERATION OF LAW. - NO delivery or transfer under subsection (b) not otherwise exempt shall be exempt because effected by operation of law. The tax under such subsection shall not be imposed upon any delivery or transfer- "(1) From a decedent to his executor or administrator. "(2) From a minor to his guardian, or from a guardian to his ward upon attaining majority. "(3) From an incompetent to his committee or similar legal representative, or from a committee or similar legal representa- tive to a former incompetent upon removal of disability. "(4) From a bank, trust company, financial institution, insur- ance company, or other similar entity, or nominee, custodian, or trustee therefor, to a public officer or commission, or person desig- nated by such officer or commission or by a court, in the taking over of its assets, in whole or part, under State or Federal law regulating or supervising such institutions, nor upon redelivery or retransfer by any such transferee or successor thereto. "(5) From a bankrupt or person in receivership due to insol- vency to the trustee in bankruptcy or receiver, from such receiver to such trustee, or from such trustee to such receiver, nor upon redelivery or retransfer by any such transferee or successor thereto. "(6) From a transferee under paragraphs (1) to (5), inclusive, to his successor acting in the same capacity, or from one such successor to another. "(7) From a foreign country or national thereof to the United States or any agency thereof, or to the government of any foreign country, directed pursuant to the authority vested in the President by section 5 (b) of the Trading with the Enemy Act (40 Stat. 415), as amended by the First War Powers Act (55 Stat. 838). "(8) From trustees to surviving, substituted, succeeding, or additional trustees of the same trust. "(9) Upon the death of a joint tenant or tenant by the entire- ties, to the survivor or survivors. No exemption shall be granted under this subsection unless the delivery or transfer is accompanied by a certificate setting forth such facts as the Commissioner, with the approval of the Secretary, may by regula- tion prescribe." (2) Section 3481 (relating to sales and transfers of bonds) is amended by inserting at the end thereof the following new subsection: "(b) TRANSFEBs BY OPERATION OF LAW.- No delivery or transfer under subsection (a) not otherwise exempt shall be exempt because effected by operation of law. The tax under subsection (a) shall not be imposed upon any delivery or transfer- "(1) From a decedent to his executor or administrator. "(2) From a minor to his guardian, or from a guardian to his ward upon attaining majority. "(3) From an incompetent to his committee or similar legal representative, or from a committee or similar legal representative to a former incompetent upon removal of disability. [56 STAT.
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