Such executor or trustee shall diligently and in good faith carry out the provisions of the will or other trust arrangement, and use and apply such money or property to the purpose for which the same is donated.

Fifteenth. Any parcel or tract of land, not exceeding one acre, and improvements thereon, owned by any church and used exclusively by it as a dormitory for the students of any university belonging to this state: Provided, That this shall not apply to any such dormitory property connected with a university which maintains a dormitory: Provided, That this shall not be construed to exempt such property from special assessments.

Sixteenth. Any buildings and the lands upon which the same are situate, erected or acquired by any corporation, institution or association, created [,] organized and existing exclusively for charitable purposes, which charitable purpose consists in the dispensing gratis of medicines and medical advice and aid to poor persons, pursuant to the provisions of the last will of any testator, which buildings and the lands upon which the same are situate were acquired by means of any devise or bequest, or by the use or application of the proceeds of any such devise or bequest, and such building shall be occupied in whole or in part in dispensing such charity and the income of such building is used exclusively for such charitable purposes; and where any taxes may have been heretofore levied or assessed against any such land or lands and the building or buildings thereon, and not heretofore paid, such taxes shall not hereafter be collected and such taxes so levied or assessed shall not hereafter constitute or be a lien upon any such property, nor shall the same in any manner constitute a claim against any such institution or association.

Seventeenth. The stock and property of corporations organized for the purpose of perpetuating the memory of soldiers and sailors where the permanent fund of such corporation shall be perpetual and shall not be diminished for any purpose and the income from such investment shall be for no purpose other than that set forth in the act authorizing the organization of such corporation.

Eighteenth. Battle grounds, or other historical sites which the common council of any city, the board of trustees of any incorporated town, or any incorporation organized as a voluntary association of this state and not for profit, is authorized by law to have and to hold for the purpose of maintaining, preserving and improving the same.

Nineteenth. The real estate and personal property of any corpora tion which shall have established a public library as provided by law, which real estate and personal property shall be used exclusively for such library purposes.

Twentieth. All bonds, notes and other evidence of indebtedness hereafter issued by the State of Indiana or by municipal corporations within the state upon which the said state or the said municipal corporations pay interest shall be exempt from taxation.

Twenty-first. That all bonds hereafter authorized by any county or township in the State of Indiana for the purpose of building, constructing and paying for the construction of any free gravel, macadamized or other improved roads, shall be exempt from taxation: Provided, Said bonds shall not bear a greater rate of interest than five per cent interest per annum, payable semi-annually.

Twenty-second. All bonds and other evidences of indebtedness hereafter issued by or in the name of any municipality or other political or civil subdivision of the State of Indiana, or by or in the name of any taxing district in the State of Indiana, for the purpose of paying the cost of acquisition, construction, improvement or maintenance of streets, highways, drains, levies, parks, docks, waterways, boulevards, playgrounds, bridges, sewage disposal plants and other improvements or [of] public benefit, and which bonds or other evidences of indebtedness are payable from special assessments or special taxes, shall be exempt from taxation, unless otherwise expressly provided in this section.

Twenty-third. All bonds, notes, mortgages and other evidences of indebtedness heretofore or hereafter issued and negotiated by the Indiana state board of agriculture pursuant to the provisions of any statute then in force shall be exempt from taxation.

Twenty-fourth. That all real estate and personal property used exclusively by the Indiana National Guard or any other military organization of the state for armory purposes, shall be exempt from taxation so long as the same is used exclusively for such purposes.

Twenty-five. All property whether real or personal owned or held for the use of corporations, not for profit, which are organized for the purpose of discovering and preventing fires and saving property and life from conflagration.

This section amends section 1, Acts 1920, p. 164, which amended section 5, Acts 1919, p. 198.

Section 10 of the above act makes this section in force and effect March 10, 1921. Section 1, Acts 1921, p. 7, chapter 4, also amended section 1, Acts 1920, p. 164, but had no emergency clause. The above amended section appears to duplicate the amendment of chapter 4, Acts 1921, p. 7, and adds paragraph 24 and 25.

[Acts 1919, p. 198. In force March 11, 1919.]

10139g. Exemptions limited.-6. If all or any part, parcel or portion of any tract or lot of land, or any buildings or personal property enumerated in the preceding section as exempt from taxation, shall be used or occupied for any other purpose or purposes than those recited

in said section, by reason whereof they are exempted from taxation, such property, part, parcel or portion shall be subject to taxation so long as the same shall not be set apart or used exclusively for some one of the purposes specified in said enumeration.

10139h. Time for listing personal property.-7. Personal property shall be listed for taxation between the first day of March and the fifteenth day of May, each year, and with reference to the quantity and quality held or owned on the first day of March, in the year for which the property is required to be listed.

101391. Ownership on the first day of March.-8. The person purchasing or acquiring property, whether real or personal, on the first day of March, in any year, shall be considered as the owner on that day, and shall be assessed and liable for the taxes of that year.

10139j. Listing by executor or administrator.-9. If a person die after the first day of March, in any year, without having given in the amount of his taxables, his executor or administrator, heir at law, or other person having charge thereof, shall give in the same as though such property had been in his possession on the first day of March of such year.

10139k. Where assessed.-10. All personal property shall be assessed to the owner in the township, town or city of which he is an inhabitant on the first day of March of the year for which the assessment is made, with the following exceptions:

First. All goods and chattels situated in some township, town or city other than where the owner resides shall be assessed in the township, town or city where situated, and not elsewhere, if the owner or person having control thereof hires or occupies a store, mill, dock yard, piling ground, place for sale of property, shop, office, mine, farm, place of storage, manufactory or warehouse therein, for use in connection with such goods and chattels : Provided, That the procuring any such property to be manufactured upon contract shall be deemed the hiring of the mill or manufactory, within the meaning of this section.

Second. All animals kept throughout the year in some township, town or city, other than where the owner resides, shall be assessed to such owner, or to the person in possession in the township, town or city where kept.

Third. All shares in banks shall be assessed to their owners in the city or town where the bank is located.

Fourth. Personal property of nonresidents of the state shall be assessed to the owner or to the person having control thereof in the township, town or city where the same may be, except that where such

NUB

property is in transit to some place within the state it shall be assessed in such place.

Fifth. The personal property of minors under guardian shall be assessed to the guardian in the township, town or city where the guardian resides, but shall not be assessed or taxed for city or town purposes unless the ward resides in such city or town, and the personal property of every other person under guardianship shall be assessed to the guardian in the township, town or city where the ward resides. Sixth. The personal property of the estates of deceased persons in the hands of executors, administrators or other persons shall be assessed to the persons in charge of such property in the township, town or city where the deceased last dwelt, until such property has been distributed to the heirs or other persons entitled thereto. If such decedent was a nonresident of the state, such property shall be assessed in the township, town or city where situated.

Seventh. Personal property under the control of a trustee or agent, whether a corporation or natural person, may be assessed to such trustee or agent, except as otherwise by law provided, in the township, town or city in which such trustee or agent resides.

Eighth. All personal property of any person situate upon, also all buildings situate and being upon the land of the United States, or of this state, or upon the lands of any county, township, town or city, shall be deemed personal property for purposes of taxation and assessment, and shall be assessed as personal property to the owner or occupant thereof in the township, town or city to which said lands belong or of which they form a part, and such buildings shall be subject to sale for taxes in the same manner as herein provided for personal property: Provided, however, It shall not be necessary to remove such buildings for the purpose of sale.

Ninth. All personal property of any person situate upon, also all buildings situate and being upon the right of way of any railroad operating in this state or upon the lands of another, shall be deemed personal property for purposes of taxation and assessment, and shall be assessed as personal property to the owner or occupant thereof in the township, town or city in which such property or buildings is located and such buildings shall be subject to sale for taxes in the same manner as herein provided for personal property: Provided, however, It shall not be necessary to remove such buildings for the purpose of sale.

Tenth. Personal property of nonresidents of the state in the possession or under control of any person or corporation as trustee, receiver, executor, administrator or guardian shall be assessed for state and county purposes only and in the county where the court is situated

by which said trustee, receiver, executor, administrator or guardian was appointed or to which such trustee, receiver, executor, administrator or guardian reports.

Eleventh. Whenever a receiver, trustee, executor, administrator or guardian shall have been appointed in any proceeding or matter, any personal property in the possession of any such receiver, trustee, executor, administrator or guardian shall be assessed for state and county purposes in the place where the same would have been assessed by law if such proceeding had never been instituted.

101391. Corporate property, assessment and apportionment.—14. All corporate property, including capital stock and franchises, except where some other provision is made by law, shall be assessed to the corporation as to a natural person in the name of the corporation. The place where its principal office in this state is situated shall be deemed its residence, but if there be no principal office in the state then such property shall be listed and taxed at any place in the state where the corporation transacts business: Provided, In the case of a domestic corporation which has its home office in a county different from the county or counties in which its operating plant or business, or operating plants or businesses, are located, the corporation shall make its corporate report as in this act provided to the state board of tax commissioners, which board shall determine the amount of corporate excess, if any, assessable to said corporation and distribute and certify said corporate excess to the county or counties where the operating plants are located, in the ratio of the tangible property in each county to the total tangible property in all of said counties; and such corporate reports shall show, in addition to the other things required, the assessed values of tangible property owned by such corporation in each county. The county auditor in each of such counties shall apportion such certified assessments to the several taxing units of his county where such property is located, and in the ratio of such tangible property in each taxing unit to the total assessed value of such tangible property in the county.

the

10139m. Co-partnerships, residence defined, liability of partners.12. For the purposes of assessing property and collecting taxes, a copartnership shall be treated as an individual, and whenever the name of the owner or occupant of property is required to be entered upon tax duplicate, if such property is owned or occupied by a co-partnership, the firm name may be used. A co-partnership shall be deemed to reside in the township, town or city where its business is principally carried on. Each partner shall be liable for the whole tax.

10139n. Property in transitu, listing and assessing.-13. Personal property in transitu shall be listed and assessed in the township, town