§ 105-315. Reports by persons having custody of tangible personal property of others.
§105‑315. Reports by persons having custody of tangible personal propertyof others.
(a) As of January 1,every person having custody of taxable tangible personal property that has beenentrusted to him by another for storage, sale, renting, or any other businesspurpose shall furnish the appropriate assessor the reports required bysubdivision (a)(2), below:
(1) Repealed by SessionLaws 1987, c. 813, s. 14.
(2) For all tangiblepersonal property, except inventories exempt under G.S. 105‑275(33) and(34), there shall be furnished to the assessor of the county in which theproperty is situated a statement showing the name of the owner of the property,a description of the property, the quantity of the property, and the amount ofmoney, if any, advanced against the property by the person having custody ofit.
(3) For purposes ofillustration, but not by way of limitation, the term "person havingcustody of taxable tangible personal property" as used in this subsection(a) shall include warehouses, cooperative growers' and marketing associations, consignees, factors, commission merchants, and brokers.
(b) Any person whofails to make the reports required by subsection (a), above, by January 15 inany year shall be liable to the counties in which the property is taxable for apenalty to be measured by any portion of the tax on the property that has notbeen paid at the time the action to collect this penalty is brought plus twohundred fifty dollars ($250.00). This penalty may be recovered in a civilaction in the appropriate division of the General Court of Justice of thecounty in which the property is taxable. Upon recovery of this penalty, the taxon the property shall be deemed to be paid. (1939, c. 310, ss. 1001,1002; 1955, c. 1069, ss. 2, 3; 1965, c. 592; 1971, c. 806, s. 1; 1987, c. 45,s. 1; c. 813, s. 14.)