Chap. 215.—An ACT to amend and re-enact section 19 of an act enti-
tled an act for the assessment of taxes on persons, property, income,
licenses, &c,, and imposing taxes thereou for the support of the gov-
ernment and free schools, and to pay the interest on the public debt,
approved March 27, 1876.

Approved March 8, 1879.

1. Be it enacted by the general assembly, That section nine-
teen of an act entitled an act for the assessment of taxes on
persons, property, income, licenses, end so forth, and imposing
taxes thereon for the support of the government and free
schools, and to pay the interest on the public debt, approved
March twenty-seven, eighteen hundred and seventy-six, be
amended and re-enacted so as to read as follows:

§ 19. The real and personal property of every insurance com-
pany and every mutual aid society company shall be listed and
assessed on the land and property books of the commissioners
of the revenue, in the same manner as other real and personal
property is assessed ; and there shall be a tax of fifty cents on
every liundred dollars of the estimated value thereof, the pro-
ceeds of one-fifth of which shall be applied to the support of
the public free schools of the state. The specific license tax
upon each insurance company and mutual aid society com-
pany, for the privilege of doing business in this state, shall be
two hundred dollars, and in addition thereto one per centum
upon the gross amount of all assessments or premiums col-
lected or received, or obligations taken therefor, derived from
its business in this state. Any company failing promptly to
pay the tax hereby imposed, shall forfeit five per centum upon
the amount of the tax due for each month, or fraction of a
month, during which it shall be in default. Any company
which shall pay the specific license tax into the treasury be-
tween the first and fifteenth day of January in each year, or as
soon thereafter as such company shall begin business in this
state, and the additional tax of one per centum upon the
amount derived from its business as provided, shall be enti-
tled, without the payment of any additional state tax, to do
business in any and every part of the commonwealth. Every
company shall certify to the auditor of public accounts, be-
tween the first and thirty-first day of January in each year, on
the oath of its chief accounting officer or principal agent in
this state, the gross amount of all assessments or premiums
collected or received, or oblizations taken therefor, by such
company, from its business in this state; and shall immedi-
ately pay mto the treasury the tax imposed by law on such
assessments, premiums, and forfeitures. Any company failing
to report the amount of its receipts, as herein provided, shall
forfeit the right to do business in this state until] such report
shall have been made, of which forfeiture the auditor of public
accounts shall sive notice, by publication, and thereupon the
power of such agent shall cease and determine: provided that
when by the laws of any ofher state or nation, the taxes im-
posed upon companies chartered by this state are in excess of
taxes Imposed on Insurance companies by this state, then all
companies chartered by such state or nation shall be required
to pay the same taxes in this state as are required by such state
or hation on companies chartered by this state. A company
which does not in any year solicit any new business, but which
receive the preraiuis from business done in any previous year, or
years, shall be construed as doing business in this state for that
year, and be subject to the taxes imposed by this act: provided
that ihe specific license tax imposed under the provisions of this
section, shall not apply to the society known as the Masonic
mutual beneficial association of Norfolk, Virginia, or to such
insurance companies as are organized solely for purposes of
the mutual protection of the members of the same against
losses by fire, and which, under their charter, do not contem-
plate conducting any business of profit, nor the creation of a
dividend-paying stock, and the members of which, under their
charter, are not liable for any loss, damage, or responsibility,
further than such necessary contributions to the expenses of
the company, in proportion to the amount for which each mem-
ber is insured, as are required for the mutual insurance of the
members.
2. ‘This act shall be in force from its passage.