trator or trustee shall retain the tax upon the whole amount, but if it be not in money, he may apply to any court having jurisdiction to make an apportionment, as the case may require, of the sum to be paid into his hands by such legatee, and such further orders relative thereto as the case may require.

SEC. 12. Be it further enacted, That every exExecutor, Ad ecutor, administrator or trustee or personal repreTrustee to sentative of a decedent, before taking into possesmake report sion or under control stocks, bonds, securities,

ministrator,

to clerk.

Property, re

ler.

money, or other personal property belonging to the estate of said decedent, located in a lock box, safe, vault or other depositary for safe keeping in Tennessee, or in custody or control of any safe deposit company, trust company, corporation, bank or other institution, person or persons, shall notify the County Court Clerk of the county where such property is situated, in writing at least ten days before taking possession of such stocks, bonds, securities, money, or other personal property, stating in said notice the time and place, when and where such possession will be taken.

Such County Court Clerk shall have the right to be present in person or by deputy appointed by him, at the time possession is taken of such stocks, bonds, securities, money or other personal property as aforesaid by the executor, administrator, or personal representative of the decedent.

In the event he or his deputy shall be present port of, list when securities of the decedent are taken over, as to Comptrol aforesaid by the executor, administrator or personal representative of such descedent, the County Court Clerk or his deputy shall file in his office and in the office of the State Comptroller, a report showing a complete list of all such stocks, bonds, securities, money or other personal property taken over in his presence or in the presence of his duly appointed representative, by the executor, administrator or personal representative.

For the purpose of taxation under this Act, the said report of the County Court Clerk shall be final and conclusive as to correctness of list of property

taken over by the executor, administrator or personal representative as aforesaid, but it shall be lawful for the State Comptroller, personally, or by representative, to examine said securities, deposits, or assets at the time of such delivery or transfer.

Executor,

tor, etc., re

Every executor, administrator or personal representative of a decedent who was a resident or non-Appointment resident of Tennessee at the time of his death, shall Administrareport to the State Comptroller within thirty days) port of. from the date of his appointment as executor, ad ministrator or personal representative of the de cedent, all assets belonging to or outstanding in the name of said decedent, in Tennessee, and all personal property known to him to belong to the estate of the decedent, except as otherwise provided in this Act.

companies

Provided, That companies be not required to re- Industrial port deaths under Industrial, or weekly premium exempt. policies, the benefits of which are not more than ($250.00) Two Hundred and Fifty Dollars.

bond.

Upon motion in the court having jurisdiction thereof, the State Comptroller shall have the right to acquire the execution of additional bond by any executor, administrator, or personal representative Additional of a decedent, whose estate falls within the provisions of this Act, where, upon proper showing it appears that the State of Tennessee is not sufficiently protected to assure the collection of the full amount of inheritance tax as due the State from the estate of such decedent.

Tax money re

Every executor, administrator or personal representative of a decedent whose estate is subject to the provisions of this Act, shall retain a sufficient portion or amount of said estate on hand to pay tained. the inhertiance tax, which may be assessed under the provisions of this Act, until the tax due from said estate has been fully paid and the executor, administrator or personal representative of a decedent has received a receipt in full from the County Court Clerk for said taxes.

Failure to serve notice, failure to allow examination, or failure to retain a sufficient portion or

ministrator,

serve law.

Penalty.

amount to pay inheritance taxes as herein provided, Executor-Ad- if it result in loss to the State, shall render evfailure to ob-ery executor, administrator, or personal representative so in default and his bondsmen on all bonds hereafter made liable to the payment of the amount of the taxes which would otherwise be lost to the State of Tennessee by reason of such failure, and in addition thereto a penalty of not less than the full amount of the tax for which the estate of the decedent was liable, nor more than Twenty-five Thousand Dollars ($25,000.00); and the payment of such tax and interest thereon, or the penalty above described or both may be enforced in an action brought by the State Comptroller in any court of competent jurisdiction, provided, however, that the provisions of this Section shall not apply to cases of partnership formed to operate any kind of business.

panies, report

The information obtained hereunder by the comptroller or his agents and representatives, or by the County Court Clerk, or any agent or representative of the County Court Clerk shall only be available for the purpose of collecting the tax provided herein, and shall not be used in any proceeding other than for the collection of such tax, or to enforce the penalties herein provided.

SEC. 13. Be it further enacted, That every life insurance company or association doing business in Insurance com this State, shall within ten days after the approval of deaths. of proof of death of a person insured under a policy or policies, in such companies or association, give notice in writing to the County Court Clerk of the County where the estate is being administered stating: (a) The date and amount of each policy; (b) the name and address of each beneficiary therein; (c) the time and manner of payment.

Failure to report.

Any insurance company doing business in the State of Tennessee, failing or refusing to comply with the provisions of this Act, shall thereby forfeit their charter within this State and their right to do business within the State of Tennessee.

Upon certification from the Insurance Commissioner, that any insurance company has failed or refused to comply with the provisions of this Act, the Secretary of State shall forthwith cancel the charter of such company and shall immediately notify such insurance company that it is barred from > doing further business in the State of Tennessee.

collect,

SEC. 14. Be it further enacted, That the Comptroller of the Treasury shall be vested with abso-Comptroller to lute and exclusive jurisdiction over the collection of when all taxes provided for in this Act after the expiration of one year from the date of the death of the person from whom the tax is derived, but that the tax itself shall be paid to the County Court Clerk, except as hereinafter provided.

right to sue.

Said Comptroller of the Treasury is vested with full and complete authority to sue in the name of Comptroller, the State, or to intervene in any case pending, wherein the estates of decedents are being administered, for the collection of such taxes after the expiration of twelve months, whether the payment of said tax be delinquent or whether its collection has been postponed by reason of litigation, or other cause of delay, or whether for any reason no appraisal has theretofore been made; provided independent suits for the collection of the tax shall be brought by the comptroller in the Chancery or Circuit Courts of the State, in the county in which the tax accrues, and that the comptroller may employ some competent attorney to represent the State, or direct the revenue agent to do so, and if the court adjudges any tax to be due, it shall also fix a reasonable fee for the attorney or revenue agent, representing the comptroller, which shall be taxed up as a part of the costs of the cause, to be collected from the taxpayer or out of the property held liable for

the tax.

All suits or intervening proceedings brought by the Comptroller as above provided may be, at the option of the Comptroller, based upon the appraisement, if such has been made in accordance with the previous provisions of this Act, or he may apply to

Comptroller

mise.

the court in which the suit is brought to fix and determine the amount of the tax where no appraisement has been made, or without reference to any appraisement that may have been made, the taxpayer forfeiting the benefits of the appraisement for his failure to make payment before the tax became delinquent.

Whenever an estate charged or sought to be charged with an inheritance tax in this Act provided for is of such a nature or is so disposed that the liability of the estate is doubtful, or the value may compro-thereof cannot with reasonable certainty be ascertained under the provisions of the law, the comptroller of the State may compromise with the beneficiaries or representatives of such estate and compound the tax thereon, such settlement and compromise to be filed in the office of the County Court Clerk of the particular county to whom the tax, as thus compounded, shall be paid.

furnished

clerk.

SEC. 15. Be it further enacted, That the CompForm and blank troller of the State shall prescribe and furnish to the various county court clerks of the State such forms and blanks as may be necessary to enable the county court clerks to make and keep records of inheritance tax proceedings and all reports herein provided for.

SEC. 16. Be it further enacted, If any section, subsection, sentence, clause or phrase of this Act is for any reason held to be unconstitutional, such decision shall not affect the validity of the remaining portions of the Act.

The General Assembly hereby declares that it would have passed this Act, each section, subsection, sentence, clause or phrase, thereof, irrespective of the fact that any one or more of the sections, subsections, sentences, clauses, or phrases be declared unconstitutional.

SEC. 17. Be it further enacted, That Chapter 174 of the Acts of the General Assembly of 1893, entitled "An Act to provide for a collateral and succession tax or duty, upon certain estates, and for the collection of the same, and to this end to confer further