Section 333750. The corporation may have offices in such those places within or outside of the State, other than the location of the principal office as set forth in the declaration of charter as required in Section 3337210, as may be fixed by the board of directors. Section 333760. Under no circumstances is the credit of the State pledged in this chapter. Section 333770. The corporation and its subsidiary corporation are not subject to taxes based upon or measured by income which are levied now or later by the State. The securities, evidences of indebtedness, and shares of the capital stock issued by the corporation and its subsidiary corporation, their transfer, income from them, and deposits of financial institutions invested in them are free at all times from taxation within the State. The corporation and its subsidiary corporation are not subject to a corporation license tax or fee imposed by Chapter 20, of Title 12. Notwithstanding the above provisions, should the corporation or any of the corporation’s subsidiaries apply for and receive a charter to operate as a bank, then the corporation or the subsidiary chartered as a bank is subject to all taxes or license fees applicable to banks. Section 333780. Any stockholder, member, or other holder of any securities, evidences of indebtedness, or shares of the capital stock of the corporation or any of its subsidiaries who realizes a loss from the sale, redemption or other disposition of any securities, evidences of indebtedness, or shares of the capital stock of the corporation, including any such loss realized on a partial or complete liquidation of the corporation, and who is not entitled to deduct such loss in computing any of such the stockholder’s, or other taxes to the State, shall must be entitled member’s holder’s to credit against any taxes subsequently becoming due to the State from such the stockholder, member or other holder a percentage of such loss equivalent to the highest rate of tax assessed for the year in which the loss occurs upon mercantile and business corporations. Article 3 Charter and Amendments; Organization; Powers Section 3337210. Twentyfive or more persons, a majority of whom shall be residents of this State, who may desire to create a business development corporation under the provisions of this
Section 333750. The corporation may have offices in such those places within or outside of the State, other than the location of the principal office as set forth in the declaration of charter as required in Section 3337210, as may be fixed by the board of directors. Section 333760. Under no circumstances is the credit of the State pledged in this chapter. Section 333770. The corporation and its subsidiary corporation are not subject to taxes based upon or measured by income which are levied now or later by the State. The securities, evidences of indebtedness, and shares of the capital stock issued by the corporation and its subsidiary corporation, their transfer, income from them, and deposits of financial institutions invested in them are free at all times from taxation within the State. The corporation and its subsidiary corporation are not subject to a corporation license tax or fee imposed by Chapter 20, of Title 12. Notwithstanding the above provisions, should the corporation or any of the corporation’s subsidiaries apply for and receive a charter to operate as a bank, then the corporation or the subsidiary chartered as a bank is subject to all taxes or license fees applicable to banks. Section 333780. Any stockholder, member, or other holder of any securities, evidences of indebtedness, or shares of the capital stock of the corporation or any of its subsidiaries who realizes a loss from the sale, redemption or other disposition of any securities, evidences of indebtedness, or shares of the capital stock of the corporation, including any such loss realized on a partial or complete liquidation of the corporation, and who is not entitled to deduct such loss in computing any of such the stockholder’s, member’s or other holder’s taxes to the State, shall must be entitled to credit against any taxes subsequently becoming due to the State from such the stockholder, member or other holder a percentage of such loss equivalent to the highest rate of tax assessed for the year in which the loss occurs upon mercantile and business corporations. Article 3 Charter and Amendments; Organization; Powers Section 3337210. Twentyfive or more persons, a majority of whom shall be residents of this State, who may desire to create a business development corporation under the provisions of this
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