§ 35-132. Levy.

(a)

There is hereby levied an annual license tax for the year 1965 and for each subsequent year on each company, society, association, corporation, firm, or individual engaged in the business of issuing life, accident or health insurance policies or other forms of contracts or obligations covering such risks, or issuing endowment or annuity policies or contract obligations in consideration of the payments of a premium or other consideration for the issuance of such policies, contracts or obligations, whether such insurance company, society, association, corporation, firm or individual be domiciled in this state or parish or operating through an agent or other representative or otherwise; such annual license tax is based on the gross amount of annual premium on all such risks located in this parish in the unincorporated areas, fixed and graded as follows:

(1)

On any company, society, association, corporation, firm or individual engaged in the business of issuing life or accident or health insurance policies or other forms of contracts or obligations covering such risks, or issuing endowment or annuity policies or contracts, or other similar form of contract obligations in consideration of the payment of a premium or other consideration for the issuance of such policies, contracts, or obligations, whether such insurance company, society, association, corporation, firm or individual be domiciled in this state or parish or operating through an agent or other representative, or otherwise, not more than ten dollars ($10.00) on gross annual premiums up to two thousand dollars ($2,000.00), and the additional license thereafter shall not be more than seventy dollars ($70.00) on each ten thousand dollars ($10,000.00) or fraction thereof of gross annual premiums in excess of two thousand dollars ($2,000.00). Provided that the maximum license on such business payable to the parish by any one (1) company, society, association, corporation, firm or individual, shall not exceed twenty-one thousand dollars ($21,000.00).

(2)

On any company, society, association, corporation, firm or individual engaged in the business of issuing policies, contracts, or other forms of obligations covering the risk of fire, or marine, or river insurance, or surety, or fidelity, or indemnity, or guaranty, or workmen's compensation or employer liability, or property damage, or livestock, or tornado, or automobile, or automatic sprinkler, or burglary, or insurance business of any kind whatsoever in this state whether such insurance company, society, association, corporation, firm or individual, be domiciled in this parish or operating through agents or other representatives or otherwise, not more than the following:

a.

First class: On premiums of less than two thousand dollars ($2,000.00) the license fee shall be based on two (2) percent of gross receipts, provided that no license shall be issued for less than five dollars ($5.00) nor shall exceed forty dollars ($40.00).

b.

Second class: On premiums in excess of two thousand dollars ($2,000.00) and not exceeding four thousand dollars ($4,000.00), the license fee shall be sixty dollars ($60.00).

c.

Third class: On premiums in excess of four thousand dollars ($4,000.00) and not exceeding six thousand dollars ($6,000.00) the license fee shall be eighty dollars ($80.00).

The license fee shall be seventy dollars ($70.00) additional for each ten thousand dollars ($10,000.00) or fraction thereof of gross annual premiums in excess of six thousand dollars ($6,000.00).

(b)

The maximum license on such businesses, payable to the parish by any company, society, association, corporation, firm or individual shall not exceed nine thousand dollars ($9,000.00); provided, that plate glass and steam boiler inspection companies, societies, associations, corporations, firms or individuals, shall pay only one-third ( 1/3 ) of the above rates provided in subsection (a)(2); and provided further, that the amount of license fee payable to the parish as fixed in subsections (a)(1) and (a)(2) shall be one-third of the amount so fixed if the payer shall, file a sworn statement with the annual report required by this chapter, showing that at least one-sixth ( 1/6 ) of the total admitted assets of the payer is invested and maintained either in bonds of this state, or in bonds of municipal, school, road or levee district or other political subdivisions of this state, or in mortgages on property located in this state, or in policy loans, or other loans to residents of this state, or to corporations organized under the laws of this state, and domiciled in this state, or in stock of homestead, building or loan associations organized and operating under the laws of this state, to the extent such stock is guaranteed or insured by the Federal Deposit Insurance Corporation or other federal or state agency.

(Code 1961, § 10-75)