Section 12-37-1110 - "Personal property in transit" defined; such property acquires no situs for tax purposes; liberal construction of "no situs" statusPersonal property in transit through this State is personal property, goods, wares and merchandise:
(a) Which is moving in interstate commerce through or over the territory of this State; or (b) which was consigned to a warehouse, public or private, within this State from without this State for storage in transit to a final destination outside of this State whether specified when transportation begins or afterward. Such property is deemed to have acquired no situs in this State for purposes of property taxation, and such "no situs" property shall not acquire situs so as to become subject to property taxation by virtue of the fact that while in the warehouse the property is assembled, bound, joined, processed, disassembled, divided, cut, broken in bulk, relabeled or repackaged. The "no situs" status granted herein shall be liberally construed to effect the purposes of this article.1962 (52) 1964; 1962 Code Section 65-1655.