TITLE V. CHAPTER 20. Minimum bid to lic auction by the treasurer of the county in which such lands are situated, at the time and place designated for the ordinary tax sales, under the direction of the auditor general. SEC. 106. Such notice shall also state that the minimum bid receivbe stated in no- able at such sale, shall be the aggregate of the taxes, interest and charges aforesaid, as exhibited in such statement. tice. Certificates to purchasers. Sale how conducted. Deed to purcha Ber. When auditor generaal may cancel sale, and refund purchase money. Purchasers not entitled to Interest after notice. When lands to be struck from the assessment roll. SEC. 107. The county treasurer shall, on payment of the purchase money at such sale, issue certificates of sale to the purchasers, in such form, and make such returns to the auditor general as shall be prescribed by him, and shall also transmit the monies received on such sales to the state treasurer, in such manner as he shall have directed. SEC. 108. At the time designated in the notice, or immediately after the sale of other lands advertised to be sold for taxes at the same time, each county treasurer shall commence the sale at the place designated, and continue the same from day to day if necessary, (Sundays excepted,) until he has offered all the lands embraced in his list, which shall not have been redeemed, or otherwise discharged; and he may re-offer and sell any parcel when a bidder shall refuse to pay his bid, for twenty-four hours after the lists have been gone through, or he may, in his discretion, demand immediate payment, and if not paid, cancel the bid, and re-offer the lands. SEC. 109. The auditor general shall, on the presentation of the certificate of sale at his office, or as soon thereafter as may be, execute a deed of the lands to the purchaser or his assigns, which shall convey all the right acquired by the state under the original sale or sales, subject to all taxes duly assessed on the lands described therein, and such deed shall be prima facia evidence of the correctness of all the proceedings to the date of the deed, and of title in the grantee therein named, and when duly acknowledged, may be recorded and admitted in evidence in the same manner as other deeds of conveyance. SEC. 110. The auditor general shall have power, and it shall be his duty, at any time within two years from the date of any such sale, to cancel the same, in all cases where the original sale to the state shall be shown to his satisfaction to have been invalid for any cause, and in such case he shall draw his warrant on the state treasurer for the amount of purchase money, and interest at the rate of seven per cent. in favor of the purchaser or his assigns, and such lands may thereafter be sold for any tax levied thereon subsequent to the tax for which it was bid in for the state, in the same manner as other lands may be sold for taxes, and with the same effect. SEC. 111. No person who shall refuse to receive back his purchase money and interest, and surrender his deed, shall be entitled to any interest after he shall have been notified by the auditor general that the sale has been canceled. SEC. 112. All lands which shall be offered at public auction as aforesaid, on which no bid is made equal to the minimum price designated, and which shall not be redeemed or otherwise discharged from the taxes due thereon, prior to the first day of March succeeding the time of offering them, shall be struck from the assessment rolls, and not again assessed until they are sold by, or redeemed from the state. SEC. 113. The auditor general shall, in the month of March in each year, transmit to the several county clerks and county treasurers, lists of all lands to be so struck from the assessment rolls in their TITLE V. CHAPTER 20. rolis, and of lands be sent to coun respective counties, and lists of such as have been previously struck from the rolls, but are to be restored and again assessed; and the said clerks respectively, on or before the first Monday of April thereafter, List of lands to shall transmit a list to the several supervisors, designating such lands be struck from in their respective townships as are to be left out of the assessment to be returned, to roll, and such as have been previously left out, but are to be restored. ty clerks, and SEC. 114. The purchaser of any lands bid in for the state at a tax their duty theresale, and sold pursuant to the provisions of this chapter, on applica- payment to be tion to the auditor general for a deed, shall pay an office charge of made by purcha twenty-five cents for the first, and six cents for each subsequent de- ser, for deed. scription contained in such deed, which shall be paid into the state treasury to the credit of the general fund. upon. for publishing statements. SEC. 115. There shall be paid for publishing the statements and Compensation notices of sales of lands bid in for the state as aforesaid, the same compensation allowed by law for publishing the lists and notices of sales of lands delinquent for taxes for the current year, which shall be audited and allowed by the auditor general, together with the expenses of the sale, and postages, and paid out of the general fund on the warrant of the auditor general. charge of land SEC. 116. In case it shall become necessary in the prosecution of officer having an action of ejectment by any person having an adverse claim to any when to be made land bid in for the state as provided in this chapter, the officer hav- defendant, ing charge of the land in behalf of the state, may be made defendant. Miscellaneous Provisions. Payment of tax SEC. 117. Any person who has a lien upon any lands returned for non-payment of taxes, may pay the taxes, interest and charges there- es by person ha on, and the receipt of the county treasurer or state treasurer therefor ving lien. duly countersigned, shall constitute an additional lien on such land to the amount therein specified; and the amount so specified shall be collectable, with interest thereon, in the same manner as the original lien. S c. 118. If any township clerk or assessor shall wilfully neglect Penalty on clerks or refuse to perform any of the duties required of him by the provi- and assessors for sions of this chapter, he shall forfeit and pay a sum not exceeding one neglect, &c. hundred dollars. &c., of clerks und SEC. 119. The board of supervisors of each county shall, at their Sepervisors to annual session in each year, transmit to the prosecuting attorney, the transmit names, names and places of abode of all township clerks and assessors with- assessors who in their county, who shall have incurred any forfeiture under the pro- penalty, to prosvisions of this chapter, and such prosecuting attorney shall immedi- ecuting attorney, ately prosecute for such forfeiture. have incurred &c. tain cases. Sc. 120. All losses that may be sustained by the default of the Losses, by whom treasurer of any township shall be chargeable on such township; and sustained in cer all losses that may be sustained by the default of any county treasurer in the discharge of the duties imposed by this chapter, shall be chargeable on such county, and the board of supervisors of such county shall add such losses to the next year's taxes of such township or county. Sec. 121. The auditor general shall, from time to time, furnish Auditor general suitable blanks in addition to those required by the preceding provi- to furnish blanks sions of this chapter, for returns of unpaid taxes, receipts, and certificates of sale, which shall be sent to the several county treasurers. SEC. 122. The assessors of the several wards in the city of Detroit, Who to act as supervisor, &c., in city of Detroit. TITLE V. CHAPTER 20. shall have and exercise the powers and duties of supervisors, and the collectors of the several wards of said-city shall have and exercise the 1842, p. 101, § 96, powers and duties of township treasurers, under the provisions of this chapter. 1843, p. 84, 80. Auditor general to publish and transmit copies with suitable forms, &c. SEC. 123. The auditor general shall, from time to time, whenever he shall find it necessary, cause to be printed at the expense of the of this chapter state, a sufficient number [of copies] of this chapter, with such forms of proceeding under the same as may be necessary and proper, to furnish one copy to each supervisor, township treasurer, assessor, township clerk, and county clerk, and three copies to each county treasurer; and shall transmit to each county treasurer, at the expense of the county, a sufficient number for such county; and every county treasurer receiving such copies shall immediately transmit to the township clerk of each township, five copies, to be distributed by him to the officers entitled thereto. Wilful neglect of ed misdemeanor, SEC. 124. Any officer who shall wilfully neglect or refuse to perduty to be deem- form any of the duties imposed upon him by this chapter, shall be & how punished.' deemed guilty of a misdemeanor, and on conviction thereof shall be punished by imprisonment in the county jail not exceeding one year, or by fine not exceeding five hundred dollars, in the discretion of the Proceeding on to surplus on court. SFC. 125. Whenever a surplus arising from the sale of any propercontested claims ty distrained for taxes, shall be claimed by any other than the person for whose tax such property was sold, and such claim shall be contested by such person, such claimant may prosecute an action against such person; or the person for whose tax such property was sold may prosecute such action against such claimant, as for money had and received; in which action the right of the respective parties to such surplus shall be tried and determined. Ib. Judgment and execution. Remedy of own ty sold for tax of another. SEC. 126. For the purposes of such action, the defendant shall be deemed to be in possession of the surplus in the hands of the township treasurer, and upon the presentation to such treasurer of a certified copy of the final judgment rendered in such action, the said treasurer shall pay over the same to the party recovering such judgment; and no township treasurer shall be liable to any claimant of such surplus, the right to which is contested as provided in this chapter, until he shall have refused to pay over such surplus upon the production of a certified copy of a judgment as aforesaid. SEC. 127. În any action brought pursuant to the two last preceding sections, no other cause of action shall be joined, nor shall any set off be allowed; and if an execution issue on a judgment so rendered, it shall direct the costs only of such action to be levied by virtue thereof. SEC. 128. When any property shall be legally distrained and sold er in case proper for the tax of any person, and such property shall be owned by another person, such owner may recover of the person for whose tax the same was sold, the value of such property, in an action of assumpsit, as for goods sold and delivered, deducting therefrom the amount of any surplus which may have been claimed or recovered by such owner as provided in this chapter. Prosecuting at vice without SEC. 129. It shall be the duty of the prosecuting attorney of each torneys to give ad county, to give his counsel and advice to the county treasurer, and the supervisors of the county, whenever they, or any of them, may deem it necessary for the proper discharge of the duties imposed upon them in this chapter, free of charge. charge. CHAPTER 21. OF SPECIFIC STATE TAXES AND DUTIES. Tax upon Banks. TITLE V. CHAPTER 21. SECTION 1. Every bank now incorporated, or hereafter to be incor- Tax on capital porated, shall pay a yearly tax of one and one half per cent. on the stock of banks. amount of capital stock paid in; one half thereof on or before the first Monday of April, and the other half on or before the first Monday of October in each year; which tax shall be in lieu of all state, county, township or other taxes in this state, on the capital stock of said banks, and of all state tax imposed by the charter of any such bank heretofore incorporated. When certain SEC. 2. Any portion of the capital stock of any bank, which shall, in accordance with the provisions of its charter and the laws of this state, portion of stock have become vested in real or personal estate within this state, sub- exempted. ject to taxation, and which shall be actually assessed within this state, for ordinary state, county, and other taxes, upon proof thereof to the satisfaction of the state treasurer and attorney general, shall be exempt from said tax of one and one half per cent. for the year succeeding said assessment, to the amount of the valuation of such property on the assessment roll. months. SEC. 3. If any part of the capital stock of any bank shall have been when stock paid paid in within six months next before either of the days specified for in within six the payment of said tax, the tax on such part shall be paid in proportion to the time that shall have elapsed after such part of the capital stock shall have been paid in. Proceedings in SEC. 4. If any bank shall neglect to make such payment, the state treasurer shall forthwith notify the attorney general thereof, who shall case of neglect thereupon immediately institute proceedings against such delinquent to pay tax. bank, by bill in chancery, or by an action at law, for the recovery of such tax, with interest and costs, in the same manner, and with the like effect, as is hereinafter provided in cases of delinquent railroad, canal, and turnpike corporations. Tax upon Railroad, Canal, and Turnpike Corporations. and other corporations. SEC. 5. Every company heretofore incorporated or hereafter to be Tax on capital incorporated within this state, for the purpose of constructing and stock of railroad using any railroad, canal or turnpike therein, shall pay a yearly tax to the state of three-fourths of one per cent. on the amount of the capital stock of such company paid in or secured to be paid, which tax shall be paid into the state treasury by said corporations respectively, on or before the first Monday of October in the year one thousand eight hundred and forty-seven, and in each year thereafter. Such tax to be in taxes. SEC. 6. Such tax shall be in lieu of all state, county, township or other taxes in this state, on the capital stock of said corporations, and lieu of all other on the railroad, canal or turnpike constructed or used by any such corporation, and on all the real and personal property in which said capital stock shall be invested, and which shall be used and occupied by any such company, in accordance with the provisions of its charter, and the laws of this state, in the construction or use of such railroad, canal or turnpike. Proceeding in SEC. 7. If any such incorporated company shall neglect or refuse to pay the tax aforesaid, on or before the said first Monday of Octo- case of neglect 16 to pay. TITLE V. CHAPTER 21. Sequestration, injunction, &c. Proceedings at law to recover tax. No person to be without license. 1842, p. 58. Prohibition not tain corporations and persons. ber, the state treasurer shall immediately furnish the name of every such company so neglecting or refusing to pay such tax, to the attorney general, with the amount due from each; and the attorney general shall thereupon file a bill in the court of chancery, against every such company, for the discovery and sequestration of its property. SEC. 8. The chancellor, on the filing of such bill, or on the coming in of the answer thereto, shall order such part of the property of such company to be sequestered, as he shall deem necessary for satisfying the taxes in arrear, with the costs of prosecution; and he may also, at his discretion, enjoin such company and the officers thereof, from any further proceedings under their act of incorporation, and may order and direct such other proceedings as he may deem necessary to compel the payment of such tax and costs. SEC. 9. The attorney general may also recover such tax, with costs, from such delinquent company, by action in the name of the people of this state in any court of competent jurisdiction. Brokers and Exchange Dealers. SEC. 10. No person shall be engaged in the business of a broker, or of buying or selling current or uncurrent money, or bank notes, or in the exchange thereof, or in the exchange of coins, without first paying into the state treasury the sum hereinafter mentioned, and obtaining a license from the state treasurer, to carry on the business of a broker and exchange dealer, in the manner hereinafter provided, except as provided in the next section. SEC. 11. The prohibition in the preceding section contained shall to apply to cer, not apply to corporations authorized by law to carry on the business of exchange, and the buying and selling of money, nor to persons engaged in commercial or mercantile operations, as forwarders, dealers in products of the country, grocers, merchants and millers, or others whose regular business, other than that of brokers and exchange dealers, renders the purchase and sale of exchanges, or the purchase or sale of current or uncurrent money, a legitimate part of their said business or corporation (occupation). Proceedings to obtain license. Amount to be paid before license granted. SEC. 12. Any persons desiring to carry on the business of brokers and exchange dealers as aforesaid, may, before commencing such business, obtain from the treasurer of this state a license for each office or concern which they propose to establish; for which purpose they shall file with the said treasurer a certificate, specifying: 1. The name of every person who is to be connected with such business, and constitute a part of the firm: 2. The actual amount of capital to be invested in the business of the concern, and the precise amount that each partner is to put in: 3. The city or village, township and county wherein said business is intended to be carried on; which said certificate shall be duly verified by the oath of the party applying for the license. SEC. 13. The persons applying for such license shall, at the time of filing such certificate, pay to the state treasurer therefor at the rate of one and one half per cent on the amount of the capital stock to be used in such business; whereupon the said treasurer shall grant, under his hand and official seal, to the person or persons applying therefor, a license to carry on the business of brokers and exchange dealers with the capital mentioned in the certificate, and at the place therein specified, for a term not exceeding one year from the date |