72-16-801. Exemption of intangible personal property of nonresident decedent -- when. The tax imposed by parts 3, 7, and 9 and this part in respect of personal property, except tangible personal property having an actual situs in this state, is not payable if:
     (1) the decedent is a resident of a state or territory of the United States which at the time of the transfer did not impose a transfer tax or death tax of any character in respect of personal property of residents of this state, except tangible personal property having an actual situs in that state or territory; or
     (2) the laws of the state or territory of residence of the nonresident decedent at the time of the transfer contained a reciprocal provision under which nonresidents of that state were exempted from transfer taxes or death taxes of every character in respect of personal property, except tangible personal property having an actual situs in that state, provided the state or territory of residence of such nonresident decedent allowed a similar exemption to residents of this state.

     History: En. Sec. 1, Ch. 3, L. 1945; R.C.M. 1947, 91-4413; amd. Sec. 28, Ch. 6, L. 1979.