CHAPTER 161.

CORPORATION COMMISSION-FEES.

(HOUSE BILL No. 557.)

AN ACT providing for fees to be charged by state officers, and declaring an emergency.

Be It Enacted by the People of the State of Oklahoma:

Fees for Transcripts.

Section 1. That for all transcripts or records furnished or made by the Corporation Commission or its Secretary, at the instance of any person, firm, company, or corporation, the same fees shall be charged as are required by law to be charged by the Clerk of the Supreme Court for making transcripts or records; provided, that the Corporation Commission, by order, may. on a showing, direct that such transcripts or records be furnished without charge, and said fees shall be converted into the State Treasury, as provided by law.

Fees for Rebates.

Section 2. That for all rebates or refunds made through the intervention or agency of the Corporation Commission, a fee of ten per cent on such rebates or refund shall be charged and deducted from such amount rebated or refunded through such intervention or agency of the Corporation Commission, and same shall be converted into the State Treasury as provided by law.

Emergency.

Section 3. For the preservation of the public peace, health and safety, an emergency is hereby declared to exist, by reason whereof this Act shall take effect and be in force from and after its passage and approval.

Approved March 15, 1915.

CHAPTER 162.

TAXATION INHERITANCE TAX.

(HOUSE BILL No. 393.)

AN ACT to provide an inheritance tax.

Be It Enacted by the People of the State of Oklahoma:

Income Tax-Applications.

Section 1. A tax is hereby laid upon the transfer to persons or corporations of property or any interest therein or income therefrom.

When the transfer is of tangible property in this state made by any person, or of intangible property made by a resident of this state at time of transfer:

First: By will or the intestate laws of this state;

Second: By deed, grant, bargain, sale or gifts, made in contemplation of the death of the grantor, vendor or donor, or intended to take effect in possession or enjoyment at or after such death;

Third: When the transferee becomes beneficially entitled in possession or expectancy by any such transfer whether made before or after the passage of this Act. Said tax shall be upon the clear market value of such property.

Incomes Not Specially Bequeathed-Effect of Act.

Section 2. Whenever the property within this state of a resident or non-resident decedent transferred by will is not specifically bequeathed or devised, such property shall for the purpose of this Act be deemed to be transferred proportionally to and divided pro rata among all the general legatees and devisees named in said will, including all transfers under a residuary clause.

Administrator and Executor Held Transferee.

Section 3. Whenever any person or corporation shall exercise power of appointment derived from any disposition of property made either before or after the passage of this Act, such appointment when made shall be deemed a transfer taxable under the provisions of this Act in the same manner as though the property to which such appointment relates belonged absolutely to the donce of such power, and had been transferred to such donee by will.

Property for Religious, Charitable or Educational Purposes Exempt"Tangible Property" Defined.

Section 4. That this Act shall not apply to transfers, such as above mentioned, made in good faith for religious, charitable or educational purposes and uses. The words "tangible property" shall mean corporeal property such as real estate, and goods, wares, and merchandise and shares of stock, bonds, indebtedness. of, or pecuniary interest in the property of any domestic or foreign corporations, associations, joint stock companies or trusts

whose ownership is held or represented by shares engaged solely in interstate commerce or business done within this state, and that proportion of the value of the property represented by the stock, bonds, indebtedness of, or pecuniary interests in the property of any domestic or foreign corporations, associations, joint stock companies, or trusts whose ownership is held or represented by shares engaged in interstate or intrastate commerce, plus that portion of such business done or property employed in this state in interstate commerce, bears to the total business done, or property employed; and in the case of transportation and transinission companies doing interstate as well as intrastate commerce in this state, that portion of the value of the stock, bonds, indebtedness of or pecuniary interest in the property of any such corporation shall be deemed tangible, as the sum of the lines in this state bears to the entire extent of the lines operated by the corporation, association, joint stock companies, or trusts whose ownership is held or represented by shares, the same being deemed to have a situs in this state for the purposes of this Act. "Intangible Property" Defined.

Section 5. The words intangible property as used herein shall be taken to mean incorporeal property, other than that named as tangible, and to include bonds, notes, credit and evidence of debts and such shares of stock of such corporations, associations, joint stock companies or trusts whose ownership is held or represented by shares as is not to be deemed tangible and such portions of such shares of stock, bonds, indebtedness of or pecuniary interest in the property of any corporations, associations, joint stock companies, or trusts whose ownership is held or represented by shares as are not to be deemed tangible. Inheritance of Member of Decedent's Family-Defined-Tax Specified.

Section 6. Upon a transfer taxable under this Act, of property, or any beneficial interest therein, of an amount, as hereinafter stated, to any father, mother, husband, wife, child, brother sister, wife or widow of a son or the husband of a daughter or any child or children adopted as such in conformity with the laws of this state. of the decedent, grantor, vendor or donor or to any child to whom any such drecedent, grantor, vendor or donor for not less than ten years prior to such transfer stood in the mutually acknowledged relation of a parent: Provided, however, such relationship began at or before the child's ifteenth

birthday, and was continuous for said ten years thereafter, or to any lineal descendant of such decedent, grantor, vendor. or donor, born in lawful wedlock, the tax on such transfer shall be at the rate of:

One per cent on any amount up to and including the sum of $25,000.00. There shall be exempt from any tax hereunder; to the wife, $15,000.00, to each child of the decedent $10,000.00 and to each other relative mentioned above $5,000.00.

Two per cent on any amount in excess of $25,000.00 up to and including the sum of $50,000.00.

Three per cent on any amount in excess of $50,000.00 up to and including the sum of $100,000.00.

Four per cent on any amount in excess of $100,000.00.

Transfer to Corporation-Tax.

Section. Upon a transfer taxable under this Act, of property or any beneficial interest therein of an amount in excess of $2,500.00 to any person or corporation other than those enumerated in section 6, the tax shall be at the rate of:

Five per cent on any amount in excess of $2,500.00 up to and including the sum of $25,000.00.

Six per cent on any amount in excess of $25,000.00 up to and including the sum of $50,000.00.

Eight per cent on any amount in excess of $50,000.00 up to and including the sum of $100,000.00.

Ten per cent on any amount in excess of $100,000.00. Lien on Property-Liability of Person in Possession-Corporations-Records-Tax-When Due.

Section 8. Every such tax shall be and remain a lien upon the property transferred until paid, and the person to whom the property is so transferred, and the administrator, executor, and trustees of every estate so transferred, shall be personally liable for such tax until its payment; and as to transfers of stock. bonds, indebtedness of, or pecuniary interest in the property of any herein, declared taxable there shall be a lien upon the property located and business transacted within this state of such corporation, prior to all other liens, and unless paid by such transferee, shall be enforced against the corporation. When paid by the corporation it shall, within this state, have a lien therefor upon the shares of stock, bonds, indebtedness of or pecuniary interest in the property of any so transferred which shall be

superior to all other liens thereon. And all corporations, associations, joint stock companies, or trusts whose ownership is held or represented by shares which do business within this state and have property here or have property used in this state, shal! keep a record at some convenient place in this state showing all transfers of stocks, shares, indebtedness, bonds or cther pecuniary interest in their property as come to their notice at any time and shall have the right before paying off any sum attributable to such share of stock, bond, indebtedness or pecuniary interest to charge to the same and recoup itself for the sums payable in that behalf by such company hereunder. The tax shall be paid to the State Treasurer, who shall give, and every executor, administrator or trustee shall take duplicate receipts from him for such payments, one of which he shall immediately send to the State Auditor, whose duty it shall be to charge the Treasurer so receiving the tax, with the amount thereof, and to seal said receipt with the seal of his office, and countersign the same and return it to the executor, administrator or trustee, whereupon it shall be a proper voucher in the settlement of his accounts; but no executor, administrator or trustee shall be entitled to a final accounting of an estate, in settlement of which a tax is due under the provisions of this Act, unless he shall produce a receipt so sealed and countersigned by the State Auditor or a copy thereof certified by him (or unless a bond shall have been filed as hereinafter prescribed). All taxes imposed by this Act shall be due and payable at the time of the transfer, except as hereinafter provided. Taxes upon the transfer of any estate, property or interest therein, limited, conditioned, dependent or determinable upon the happening of any contingency or future event, by reason of which the fair market value thereof cannot be ascertained at the time of the transfer, as herein provided, shall accrue and become due and payable when the beneficiaries shall come into actual possession or enjoyment thereof.

Interest on Tax.

Section 9. The taxes herein provided shall bear ten per cent. interest from the date when due and payable.

How Collected-Duty of Executor, etc.

Section 10. Every executor, administrator or trustee shall have full power to sell so much of the property of the decedent as will entitle him to pay such taxes in the same manner as he