Intangible Personal Property Exemptions

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Sec. 39. Intangible personal property, including the following, is exempt from taxation under this article:

(1) A promissory note.

(2) A share of stock in a foreign corporation.

(3) A bond.

(4) A debenture.

(5) A postal savings certificate.

(6) Equity in a brokerage or trading account.

(7) A deposit of money.

(8) A loan account.

(9) A debt instrument with interest coupons.

(10) A registered corporate security evidencing a debt.

(11) A written instrument or certificate evidencing a debt, including a mortgage, a chattel mortgage, a bill of sale, and a conditional sales contract.

(12) A written instrument securing an unwritten debt.

(13) A written instrument evidencing an exchange of property when the ultimate transfer of title is intended.

(14) A written contract for payment of money.

(15) An instrument bearing interest for the benefit of the holder of that instrument or the holder of another instrument.

As added by P.L.80-1989, SEC.1.


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