§ 18-114. License tax; basis of levy.

There is hereby imposed and levied an annual license tax on any insurer engaged in the business of issuing any form of insurance policy or contract, which may now or hereafter be subject to the payment of any license tax for state purposes, all as authorized by section 1076 of Title 22 of the Louisiana Revised Statutes of 1950 (R.S. 22:1076) on risks located in the municipality as follows:

(1)

On any insurer engaged in the business of issuing life or accident or health insurance policies, other than programs of benefits authorized or provided pursuant to the provisions of Parts I and II of Chapter 12 of Title 42 of the Louisiana Revised Statutes of 1950 (R.S. 42:801—42:822), or other forms of contracts or obligations covering such risks, or issuing endowment or annuity policies or contracts, or other similar forms 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 insurer by operating in this state or through an agent or other representative, or otherwise.

a.

Ten dollars on gross annual premiums up to $2,000.00 and an additional license thereafter of $70.00 on each $10,000.00, or fraction thereof, of gross annual premiums in excess of $2,000.00;

b.

The maximum license on such businesses, payable to the municipality by any one insurer, shall not exceed $21,000.00.

(2)

On any insurer, engaged in the business of issuing policies, contracts or other forms of obligations covering the risk of fire, marine, transportation, surety, fidelity, indemnity, guaranty, worker's compensation, employer's liability, property damage, livestock, vehicle, automatic sprinkler, burglary or insurance business of any other kind whatsoever in the state, whether such insurer is operating in the state through agents or other representative or otherwise, not more than the following:

a.

First class: when the gross receipts are not more than $2,000.00, the license shall be $40.00;

b.

Second class: when the gross receipts are more than $2,000.00 and not more than $4,000.00, the license shall be $60.00;

c.

Third class: when the gross receipts are more than $4,000.00 but not more than $6,000.00, the license shall be $80.00;

d.

Fourth class: when the gross receipts are more than $6,000.00, the additional license thereafter shall be $70.00 for each $10,000.00, or fraction thereof, in excess of $6,000.00;

e.

The maximum license tax on such business, payable to the municipality by any insurer, shall not exceed the maximum limit of $9,000.00, as provided for by R.S. 22:1076, above referred to;

f.

Provided that plate glass and steam boiler inspection insurers shall pay only one-third of the above rates provided in subsection (2) of this section; and provided further that the amount of license payable to the municipality as fixed by this section shall be one-third of the amount so fixed if the payer shall file a sworn statement with the annual report required by R.S. Title 22, Chapter 1, Part XXIII, showing that at least one-sixth of the total admitted assets of the payer, less assets in an amount equal to the reserves on its policies issued in foreign countries in which it is authorized to do business and which countries require an investment therein as conditioned of doing business, is invested and maintained, either in bonds of the state, or in bonds of municipal, school, road or levee district, or other political subdivisions of the state or in mortgages on property located in the state, or in real property in the state which shall be requisite for the convenient accommodations of the transaction of its own business or in policy loans, or other loans to residence of the state, or to corporations organized under the laws of the state and domiciled in the state, or in stock of homestead building or load associations organized under the laws of the state, to the extent such stock is guaranteed or insured by the Federal Deposit Insurance Corporation or other federal or state agency.

(Ord. No. 30, § 17, 4-21-1981; Ord. No. 170-2001, § I, 11-20-2001; Ord. No. 176-2002, § I, 9-18-2002)