§ 621. Estates for Years or Life-Remainders and Contingent Interests. Sec. 6118. When any grant, gift, devise, legacy or succession upon which a tax is imposed by section 1 [6117] of this article shall be an estate, income or interest for a term of years or for life, or determinable upon any future or contingent event, or shall be a remainder, reversion or other expectancy, real or personal, the entire property or fund by which such estate, income or interest is supported, or of which it is a part, shall be appraised immediately after the death of the decedent, and the fair cash value thereof, estimated at the price it would bring at a fair voluntary sale, determined in the manner provided in section 11 of this article and the tax prescribed shall be immediately due and payable to the sheriff or collector of the proper county, and, together with the interest thereon, shall be and remain a lien on said property until the same is paid: Provided, that the person or persons, or body politic or corporate, beneficially interested in the property chargeable with said tax, may elect not to pay the same until they shall come into the actual possession or enjoyment of such property, and in that case such person or persons, or body politic or corporate, shall execute a bond to the commonwealth of Kentucky, in a sum of twice the amount of the tax arising upon personal estate, with such sureties as the county court may approve, conditioned for the payment of said tax and interest thereon, at such time or period as they or their representatives may come into the actual possession or enjoyment of such property, which bond shall be filed in the office of the county clerk of the proper county: Provided, further, that such person shall make a full and verified return of such property to said court, and file the same in the office of the county clerk within one year of the death of the decedent, and within that period enter into such surety and renew the same every five years. (Russ. Stats. (1909), p. 1522.)

§ 622. Bequests to Executors in Lieu of Compensation.

Sec. 6119. Whenever a decedent appoints or nominates one or more executors or trustees, and makes a bequest or devise of property to them in lieu of commissions or allowances, which otherwise would be liable to said tax, or appoints them his residuary legatees and said bequest, devises, or residuary legacies exceed what would be a lawful compensation for their services, such excess shall be liable to said tax, and the county court in which the personal representatives of the decedent has qualified shall fix the compensation. (Russ. Stats. (1909), p. 1522.)

§ 623. Time for Payment Interest and Discount.

Sec. 6120. All taxes imposed by this chapter, unless otherwise herein provided for, shall be due and payable at the death of the decedent, and if the same are paid within eighteen months, no interest shall be charged and collected thereon, but if not so paid, interest at the rate of ten per centum per annum shall be charged and collected from the time said tax accrued: Provided, that if said tax is paid within nine months from the accruing thereof a discount of five per centum shall be allowed and deducted from said tax. And in all cases where the executors, administrators, or

trustees do not pay such tax within eighteen months from the death of the decedent, they shall be required to give a bond in the form and to the effect prescribed in section 2 [6118] of this chapter for the payment of said tax, together with interest. (Russ. Stats. (1909), p. 1522.)

§ 624. Penalty for Nonpayment.

Sec. 6121. The penalty of ten per centum per annum imposed by section 4 [6120] hereof, for the nonpayment of said tax, shall not be charged in case where, by reason of claims made upon the estate, necessary litigation, or other unavoidable cause of delay, the estate of any decedent, or a part thereof, cannot be settled at the end of eighteen months from the death of the decedent; and in such case only six per centum per annum shall be charged upon the said tax from the expiration of said eighteen months until the cause of such delay is removed. (Russ. Stats. (1909), p. 1522.)

§ 625. Collection of Tax.

Sec. 6122. Any administrator, executor or trustee having in charge or trust any legacy or property for distribution subject to the said tax, shall deduct the tax therefrom, or if the legacy or property be not money, he shall collect the tax thereon upon the fair cash value thereof, from the legatee or person entitled to such property, and he shall not deliver, or be compelled to deliver, any specific legacy or property subject to tax to any person until he shall have collected the tax thereon and whenever any such legacy shall be charged upon or payable out of real estate, the executor, administrator or trustee shall collect said tax from the distributee thereof, and the same shall remain a charge on such real estate until paid; if, however, such legacy be given in money to any person for a limited period, the executor, administrator or trustee shall retain the tax upon the whole amount; but if it be not in money, he shall make application to the county court to make an apportionment, if the case require it, of the sum to be paid into his hands by such legatees, and for such further orders relative thereto as the case may require. (Russ. Stats. (1909), p. 1523.)

§ 626. Sale of Property to Pay Tax.

Sec. 6123. All executors, administrators and trustees shall have full power to sell so much of the property of the decedent as will enable them to pay said tax, in the same manner as they may be enabled by law to do for the payment of debts of the estate, and the amount of said tax shall be paid as hereinafter directed. (Russ. Stats. (1909), p. 1523.)

§ 627.

Payment by Executor to Sheriff or Collector-Receipts and Vouchers. Sec. 6124. Every sum of money retained by an executor, administrator or trustee or paid into his hands, for any tax on property, shall be paid by him, within thirty days thereafter, to the sheriff or collector of the county in which the said tax is due and payable and the said sheriff or collector shall give and every executor, administrator or trustee shall take, duplicate receipts for such payment, one of which receipts said executor, administrator or trustee shall immediately send to the auditor of public accounts, whose

duty it shall be to charge the said sheriff or collector so receiving the tax with the amount thereof, and said auditor shall 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; and an executor, administrator or trustee shall not be entitled to credits in his accounts, nor be discharged from liability for such tax, nor shall said estate be distributed unless he shall produce a receipt so sealed and countersigned by the auditor, or a copy thereof, certified by him. (Russ. Stats. (1909), p. 1523.)

§ 628. Refund to Legatee of Overpayment.

Sec. 6125. Whenever any debts shall be proven against the estate of a decedent after the payment of legacies or distribution of property, from which the said tax has been deducted or upon which it has been paid, and a refund is made by the legatee, devisee, heir or next of kin, a proportion of the tax so deducted or paid shall be repaid to him by the executor, administrator or trustee, if the said tax has not been paid to the sheriff or collector or to the auditor, or by the auditor if it has been so paid. (Russ. Stats. (1909), p. 1523.)

§ 629. Transfer of Stock or Loans-Payment of Tax.

Sec. 6126. Whenever any foreign executor or administrator shall assign or transfer any stocks or loans in this state standing in the name of a decedent, or held in trust for a decedent, which shall be liable to the said tax, such tax shall be paid to the sheriff or collector of the proper county on the transfer thereof; otherwise the corporation permitting such transfer shall become liable to pay such tax. (Russ. Stats. (1909), p. 1523.)

§ 630. Appraisers and Appraisement.

Sec. 6127. When the value of any inheritance, devise, bequest or other interest subject to the payment of said tax is uncertain, the county court in which the said tax settlement proceedings are pending, on the application of any interested party, or upon his own motion, shall appoint some competent person as appraiser, as often as and whenever occasion may require, whose duty it shall be forthwith to give such notice by mail to all persons known to have or claim an interest in such property, and to such persons as the court may by order direct, of the time and place at which he will appraise such property, and at such time and place to appraise the same and make a report thereof, in writing, to said court, together with such other facts in relation thereto as said court may by order require to be filed with the clerk of said court; and from this report the said court shall, by order, forthwith assess and fix the fair cash value, as hereinbefore provided, of all inheritances, devises, bequests, or other interests and the tax to which the same is liable, and shall immediately cause notice thereof to be given, by mail, to all parties known to be interested therein; and the value of every future or contingent or limited estate, income, or interest shall, for the purpose of this chapter, be determined by the rule, method and standards of mortality prescribed by the mortality tables authorized by Kentucky

statutes for ascertaining the value of life estates, annuities and remainder interests save that the rate of interest to be assessed in computing the present value of all future interest and contingencies shall be five per centum per annum; and the insurance commissioner shall, on the application of said court, determine the value of such future or contingent or limited estate, income or interest, upon the facts contained in such report, and certify the same to the court, and his certificate shall be conclusive evidence that the method of computation adopted therein is correct. The said appraiser shall be paid by the personal representative of the decedent, out of any funds that may be or may come into his hands on account of said tax, on the certificate of the court, at the rate of three dollars per day for every day actually and necessarily employed in said appraisement, together with his actual and necessary traveling expenses. 1524.)

(Russ. Stats. (1909), p.

§ 631. Appraiser Taking Other Than Regular Fees-Penalty.

Sec. 6128. Any appraiser appointed by virtue of this chapter who shall take any fee or reward from any executor, administrator, trustee, legatee, next of kin or heir of decedent, or from any other person liable to pay said tax, or any portion thereof, shall be guilty of a misdemeanor, and upon conviction thereof shall be fined not less than two hundred dollars nor more than five hundred dollars, or imprisoned in the county jail sixty days, or both so fined and imprisoned, and in addition thereto the court shall dismiss him from such service. (Russ. Stats. (1909), p. 1524.)

§ 632. Jurisdiction of County Court.

Sec. 6129. The county court in the county in which is situated the real property of a decedent who was not a resident of the state, or in the county of which the decedent was a resident at the time of his death, shall have jurisdiction to hear and determine all questions in relation to the tax arising under the provisions of this chapter and the court first acquiring jurisdiction hereunder shall retain the same, to the exclusion of every other. (Russ. Stats. (1909), p. 1524.)

§ 633. Records to be Kept by County Clerk.

Sec. 6130. The county clerk of each county shall keep a book to be furnished by the auditor, in which he shall enter the values of inheritances, devises, bequests and other interests subject to the payment of such tax, and the tax assessed thereon, and the amounts of any receipts for payments thereon filed with him, which book shall be kept by him as a public record. (Russ. Stats. (1909), p. 1524.)

§ 634. Duties of Sheriff or Collector in Enforcing and Accounting for Taxes. Sec. 6131. The sheriff or collector of each county shall collect and pay to the auditor all taxes that may be due and payable under this chapter, who shall give him the receipt therefor; of which collections and payment he shall make a report, under oath, to the auditor of public accounts at the same time and in the same manner as provided by law that he shall

report and pay the state's revenue, stating for what estate paid, and in such form and containing such particulars as the auditor may prescribe; and for all such taxes collected by him and not paid to the auditor by the first day of March of each year he shall pay interest at the rate of ten per centum per annum. (Russ. Stats. (1909), p. 1525.)

§ 634a. Refund Where Legacy Less Than Five Hundred Dollars.

Sec. 6132. That whenever it shall be made to appear by affidavit or otherwise, to the satisfaction of the auditor of public accounts that any money has been paid under section 4281a of the Kentucky Statutes, where the amount of any legacy to any legatee was no more than five hundred dollars, and where said payment was made prior to the 27th day of October, 1908, the date of the decision of the court of appeals of Kentucky in Booth's Executor against the Commonwealth, the auditor of public accounts is hereby authorized and directed to draw his warrant on the treasurer of the state for the sum or sums so paid in favor of the person, whether executor or administrator or other persons who so paid the same. (This last section was adopted March 21, 1910: Acts of 1910, p. 95.)