Chap. 513.—An ACT to amend and re-enact section 168 of the Tax Code of
Virginia, relating to insurance brokers. [(H B 193]

Approved March 28, 1928

1. Be it enacted by the general assembly of Virginia, That section
one hundred and sixty-eight of the Tax Code of Virginia, the same
being designated as senate bill number one, at the nineteen hundred
and twenty-eight session of the general assembly of Virginia, be
amended and re-enacted so as to read as follows:

Section 168. Every person who shall solicit for compensation, di-
rectly or indirectly to be derived therefrom, any fire, marine, life or
other insurance, either on account of any person desiring to effect any
such insurance, or on account of any insurance company, except the
duly authorized agent (or a clerk actually employed in his office) of
any insurance company licensed to do business in this State, shall be
deemed an insurance broker. Any insurance agent (or clerk actually
employed in his office), who shall solicit, directly or indirectly, any
fire, marine, life or other insurance, either on account of any person
desiring to effect any such insurance, or on account of any insurance
company licensed to do business in the State, other than for
the insurance company or companies for which he is the duly author-
ized agent, shall be deemed an insurance broker. This section, how-
ever, shall not apply to duly authorized agents exchanging business
among themselves. Any person or firm who shall fill up, sign or deliver
a policy or certificate of insurance for a corporation, or person, or
association, or persons not licensed to do an insurance business in this
State by a legally authorized agent, shall be considered an agent ot
such corporation, or person, or association, and such person, corpora-
tion or association shall be liable for all licenses, taxes, and penalties
as if represented by a legally appointed agent. No person licensed as
an insurance broker shall be authorized under his license to place anv
insurance in a company or association, or with a person or firm not
licensed to do an insurance business in this State.

An insurance broker shall pay the sum of one hundred dollars for
the privilege of transacting such business; provided, that if, by the
existing or future laws of any other State, an insurance broker of this
State shall be required to pay for license or otherwise an amount
greater or less than the amount required by this State from simular
brokers of such other State by the then existing laws of this State, then
and in every such case all insurance brokers of such other State shall be
required to pay for license an amount equal to the amount of such
charges and payments imposed by the laws of such other State upon
insurance brokers of this State. The license shall be issued by the
State corporation commission upon the payment of the tax into the
State treasury.