The property of a company assessed under the provisions of this chapter, for the purposes
of assessment and taxation and the collection of taxes, must be considered personal
property. The taxes assessed on such property are a perpetual paramount lien upon all the
franchises and property, both real and personal, of every kind and nature belonging
to the company assessed from and after the date upon which the assessment is made,
and no sale or transfer of such property, or of any part thereof, divests, or in any
way affects, the lien for the taxes upon such property. No company which has been assessed and taxed under the provisions of this chapter
is entitled to have a transfer of any of its said property by deed, bill of sale,
or otherwise entered, filed, or recorded upon the records of the office of the recorder,
county treasurer, or county auditor, unless all taxes then due against the said property
first are paid and satisfied. All laws not in conflict with the provisions of this chapter, relating to the enforcement
of the payment of delinquent personal property taxes, are applicable to all taxes
levied on such property pursuant to the provisions of this chapter, and when any taxes
levied pursuant to the provisions of this chapter become delinquent, the county treasurer
charged with the duty of collecting such delinquent taxes shall proceed to collect
the same in the manner now provided by law for the collection of delinquent personal
property taxes. If collection is made by seizure and sale, the sale must be at public auction held
at the county courthouse.
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