18:26-11.32 Penalty for failure to obtain consent or give notice--Inheritance Tax
(a) Any bank, banking institution, safe deposit company, trust company, other institution, association, organization, corporation or person who fails to obtain the written consent of the Director, allow an examination or give notice as provided in this Chapter is liable to pay the amount of the tax and interest due or which becomes due upon the securities, deposits, shares of stock or other assets transferred or delivered and in addition is liable to a penalty of $ 1,000.00 which may be enforced in an action at law in the name of the State.
(b) A safe deposit company, trust company, bank, other institution, corporation or person is not liable to the tax and interest or penalty provided in subsection (a) of this Section, where it or he delivers securities, deposits shares of stock or other assets belonging to or standing in the names of two or more persons to one of such persons without knowledge or reasonable ground to believe that another one of such persons is dead.
(a) Any bank, banking institution, safe deposit company, trust company, other institution, association, organization, corporation or person who fails to obtain the written consent of the Director, allow an examination or give notice as provided in this Chapter is liable to pay the amount of the tax and interest due or which becomes due upon the securities, deposits, shares of stock or other assets transferred or delivered and in addition is liable to a penalty of $ 1,000.00 which may be enforced in an action at law in the name of the State.
(b) A safe deposit company, trust company, bank, other institution, corporation or person is not liable to the tax and interest or penalty provided in subsection (a) of this Section, where it or he delivers securities, deposits shares of stock or other assets belonging to or standing in the names of two or more persons to one of such persons without knowledge or reasonable ground to believe that another one of such persons is dead.
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