decedent as will entitle him to pay such taxes in the same manner as he might be entitled by law to do for the payment of the debts of the decedent. Any such administrator, executor or trustee having in charge or in trust any legacy or property for the distribution, subject to such tax, shall deduct the tax therefrom, and shall pay over the same to the State Treasurer. If such legacy or property be not in money, he shall collect the tax thereon upon the appraised value from the person entitled thereto. He shall not deliver or be compelled to deliver any specific legacy or property · subject to the tax under this act, to any person until he shall have collected the tax thereon. If any such legacy shall be charged upon or payable out of real property, the heir or devisees shall deduct such tax therefrom and pay it to the administrator, executor or trustees, and the tax shall remain a lien or charge on such real property until paid, and the payment thereof shall be enforced by the executor, administrator or trustee in the same manner that payment of the legacy might be enforced or in the manner hereinafter provided. If any such legacy shall be given in money to any such person for a limited period, the administrator, executor or trustee shall retain the tax upon the whole amount, but if it be not in money, he shall make application to the court having jurisdiction of an accounting by him to make an apportionment if the case require it, of the sum to be paid into his hands by such legatee, and for such further order relative thereto as the case may require.

Debts Against Estate-Deduction of Tax.

Section 11. If any debts shall be proved against the estate of the decedent after the payment of any legacy, or distributive share thereof, from which any such tax has been deducted, or upon which it has been paid by the person entitled to such legacy or distributive share and such person is required by the order of the county court having jurisdiction thereof, to refund the amount of such debts or any part thereof, an equitable proportion of the tax shall be

repaid to him by the executor, administrator or trustee, if the tax has not been paid by him into the State Treasury. If such tax has been paid into the State Treasury, the State Auditor shall certify to the State Treasurer the amount of such erroneous or illegal payment to be refunded, who shall pay the same out of any funds that may be appropriated for that purpose.

Commissions to Executors, etc.-Excess Taxed.

Section 12. If a decedent bequeaths property to one or more executors or trustees in lieu of their commissions or allowance, or makes them his legatees to any amount exceeding the commission or allowance prescribed by law for an executor or trustee, the excess in value of the property so bequathed, shall be taxable by this act.

Assets of Non-resident Decedents-Notice of Transfer-Duty of Trust Companies.

Section 13. If a foreign executor, administrator or trustee shall assign or transfer any property taxable under this act, the tax shall be paid to the State Treasurer on the transfer thereof. No safe deposit company, bank, or other institution in this state, or person or persons holding securities or assets of a decedent, shall deliver or transfer the same to the executor, administrator, or legal representatives of said decedent, or upon their order or request, unless notice of the time and place of such intended transfer be served upon the State Auditor at least ten days prior to the said transfer; nor shall any such safe deposit company, bank or other institution, person or persons deliver or transfer any securities or assets of the estate of a non-resident decedent without retaining a sufficient portion or amount thereof to pay any tax which may thereafter be assessed on account of the transfer of such securities or assets under the provisions of this act, unless the State Auditor consents thereto in writing; and it shall be lawful for the State Treasurer or State Auditor personally or by representative, to examine said securities or assets at the

time of such delivery or transfer. Failure to serve such notice or to allow such examination or to retain a sufficient portion of the amount to pay such tax as herein provided, shall render such safe deposit company, trust company, bank or other institution, person or persons, liable to the payment of the tax due upon said securities or assets in pursuance of the provisions of this act.

County Court-Duties in Matters Involving Estates.

Section 14. The county court of every county of the State having jurisdiction to grant letters testamentary or of administration upon the estate of a decedent whose property is taxable with any tax upon the inheritance tax laws, or to appoint a trustee of such estate, or any part thereof or to give ancillary letters theron, shall have jurisdiction to hear and determine all questions arising under the provisions of this act, and to do any act in relation thereto authorized by law to be done by the county court in other matters or proceedings coming within its jurisdiction, and if two or more county courts shall be entitled to exercise any such jurisdiction, the county court first acquiring jurisdiction thereunder shall retain the same to the exclusion of every other county court. Every petition for ancillary letters, testamentary or of administration, shall include a true and correct statement of all the decedents property in this State, and the value thereof, and, upon presentation. thereof, the county court shall issue a notice of hearing directed to the State Auditor, and at the time therein stated the county court shall proceed to determine the amount of the tax which may be or become due under the provisions of this act, and the decree awarding the letters may contain provisions for the payment of such tax or the giving of security therefor, which might be made by such county court if the State Treasurer were a creditor of deceased.

Valuation-Appraisers-Rules-Payments.

Section 15. The county court upon the application of

any interested party, including the State Auditor, Attorney General, county attorney, or upon his own motion shall as often as, and whenever occasion may require, appoint a competent person as appraiser to fix the fair market value at the time of transfer thereof of the property of persons whose estates shall be subject to the payment of any tax imposed by this act. Whenever a transfer of property is made upon which there is, or in any contingency there may be, a tax imposed, such property shall be appraised at its clear market value immediately upon the transfer or as soon thereafter as practicable. The value of every future or limited estate, income, interest, or annuity dependent upon life or lives in being, shall be determined by the rule, method and standard of mortality and value employed by the commissioner of insurance in ascertaining the value of policies of life insurance and annuities for the determination of liabilities of life insurance companies, except that the rate of interest for making such competition shall be five per centum per annum. In estimating the value of any estate, or interest in property to the beneficial enjoyment or possession whereof, there are persons or corporations presently entitled thereto, no allowance shall be made in respect of any contingent incumbrance thereon, not in respect of any contingency upon the happening of which the estate or property or some part thereof or interest therein, might be abridged, defeated, or diminished; provided, however, that in the event of such incumbrance taking effect as an actual burden upon the interest of the beneficiary or in the event of the abridgement, defeat or diminution of such estate or property or interest therein as aforesaid, a return shall be made to the person properly entitled thereto of a proportionate amount of such tax in respect to the amount or value of the incumbrance when taking effect or so much as will reduce the same to the amount which would have been assessed in respect of the actual duration or extent of the estate or interest enjoyed. Such return of tax shall be made in the manner provided

in section 11. Where any property shall after the passage of this act, be transferred subject to any charge, estate, or interest determinable by the death of any person, or at any period ascertainable only by reference to death, the increase of benefits accruing to any person or corporation upon extinction or determination of such charge, estate or interest, shall be deemed a transfer of property taxable under the provisions of this act in the same manner as though the person or corporation beneficially entitled thereto had then acquired such increase of benefit from the person from whom the title to their respective estates or interests is derived. When property is transferred in trust otherwise, and the rights, interests or estates of the transferees are dependent upon contingencies or conditions whereby there may be wholly or in part created, defeated, extended, or abridged, a tax shall be imposed upon such transfer at the highest rate which, on the happening of any of the said contingencies or conditions would be possible under the provisions of this act and such tax so imposed shall be due and payable forthwith out of the property transferred; provided, however, that on the happening of any contingency whereby the said property or any part thereof is transferred to a person or corporation exempt from taxation under the provisions of this act, or to a person taxable at a less rate than the rate imposed and paid, such person or corporation shall be entitled to a return of so much of the tax imposed and paid as is the difference between the amount paid and the amount which said person or corporashould pay under the provisions of this act, with legal interest from time of payment. Such return of over payment shall be made in the manner provided in Section 11. Estates in expectancy which are contingent or defensible and in which proceedings for the determination of the tax have not been taken or where the taxation thereof has been held in abeyance, shall be appraised at their full undiminished, clear value when the persons entitled thereto shall come into the beneficial enjoyment or possession thereof without