New York Laws
Article 12 - Tax on Transfers of Stock and Other Corporate Certificates
273 - Canceling Stamps; Penalty for Failure.

§ 273. Canceling stamps; penalty for failure. In every case where an
adhesive stamp shall be used to denote the payment of the tax provided
by this article, the person using or affixing the same shall write or
stamp thereupon the initials of his name and the date upon which the
same shall be attached or used, and shall cut or perforate the stamp in
a substantial manner, so that such stamp cannot be again used; and if
any person makes use of an adhesive stamp to denote the payment of the
tax imposed by this article, without so effectually canceling the same,
such person shall be deemed guilty of a misdemeanor, and upon conviction
thereof shall pay a fine of not less than two hundred nor more than five
hundred dollars or be imprisoned for not less than six months, or both,
in the discretion of the court.

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