Chap. 146.—An ACT to amend and re-enact section 23, section 24 and sec
tion 26 of an act approved April 16, 1903, entitled an act to raise revenue
for the support of the government and public free schools and to pay
the interest on the public debt, and to provide a special tax for pensions,
as authorized by section 189 of the Constitution.

Approved March 14, 1910.

1. Be it enacted by the general assembly of Virginia, That section
twenty-three, section twenty-four and section twenty-six of an act ap-
proved April sixteenth, nineteen hundred and three, entitled an act to
raise revenue for the support of. the government and public free schools,
and to pay the interest on the public debt, and to provide a special tax
for pensions, as authorized by section one hundred and eighty-nine of the
Constitution, be amended and re-enacted to read as follows:

§ 23. Every person, partnership, company or corporation which con-
tracts on his, their or its account to issue policies or contracts for or
agreements for life, fire, marine, surety, mutual aid, mutual benefit,
guarantee, sick benefit, employer’s liability, liability, health, credit, fidel-
ity, burglary, accident, plate glass, steam boiler, tornado, automatic
sprinkler, assessment, united brethren, or live stock and all like insur-
ance shall pay an annual specific license tax of two hundred dollars for the
rivilege of doing business in this State. The license year shall expire
on the thirtieth of April of each year. No licenses shall be issued for
less than a year except to a person, partnership, company or corporation
when he, they or it first commence business in this State, in which case
the license shall be issued for that part of the year from the date of the
issuance of the license to the thirtieth of April following, and the tax
thereon shall bear such proportion to the annual specific license tax as
the space of time between the issuance of the license and the thirtieth of
April following bears to the whole year. The specific license tax shall be
paid into the State treasury, but the auditor of public accounts shall not
receive the same until the commissioner of insurance has notified him he
can receive it.

Every such person, partnership, company or corporation shall also
pay into the State treasury, on or before the fifteenth day of March of
each year, a tax of one and three-fourths per centum upon the gross
amount of all assessments, premiums, dues and fees collected or re-
ceived, or obligations taken therefor without any deduction for divi-
dends paid, or deduction on any other account, except for premiums re-
turned upon canceled policies derived from business in this State during
each year ending the thirty-first of December, on policies, contracts, or
agreements for fire, marine, surety, guaranty, fidelity, employer’s lia-
bility, credit, accident, plate glass, tornado, automatic sprinkler, bur-
glary, steam boiler, and all like insurance, and a tax of one and four-
tenths per centum upon the gross amount of all assessments, premiums,
dues and fees collected or received or obligations taken therefor, without
any deduction for dividends paid, or deduction on any other account,
derived from business in this State during each year ending the thirty-
first of December, on policies, contracts, or agreements for life, mutual
aid, mutual benefit, sick benefit, united brethren, health, assessment,
live stock, and all like insurance: provided, however, that firre insurance
companies chartered by and doing business solely in this State, which are
purely mutual associations, not designed to accumulate profits for the
benefit of stockholders or members thereof, or to pay dividends to them,
and legal reserve life insurance companies whose entire premium income
upon all of its business shall not exceed five hundred thousand dollars
during the preceding year ending the thirty-first day of December, shall
pay a sum equal to one per centum upon the gross amount of all assess-
ments, premiums, dues, and fees collected or received or obligations
taken therefor, without any deduction for dividends paid, premiums re-
turned, or deduction on any other account, derived from business in this
State during each year ending the thirty-first day of December: pro-
vided, however, that fire insurance companies doing business on the
etock or legal reserve (not mutual) plan whose gross premium receipts,
less return premiums upon canceled policies, on all business done by
them, shall not exceed one hundred thousand dollars during the pre-
ceding year ending the thirty-first day of December, shall pay a sum
equal to one and one-quarter per centum upon the gross amount of all
assessments, premiums, dues and fees collected or received, or obliga-
tions taken therefor, without any deduction for dividends paid, pre-
miums returned or deduction on any other account except for premiums
returned upon canceled policies.

All persons, partnerships, companies and corporations which could
be licensed under the provisions of this section, and which have been
heretofore licensed to do business in this State until J anuary first, nine-
teen hundred and eleven, shall be permitted to take out license under
this act from January first, nineteen hundred and eleven, to April thir-
tieth, nineteen hundred and eleven, and pay for the same the prorated
amount of the annual specific license tax provided for in this act.

§24. Every such person, partnership, company or corporation shall,
on or before the first of March of each year, report, under oath, to the
commissioner of insurance, upon forms to be furnished by him, the
gross amount of all assessments, premniums, dues, and fees collected or
received or obligations taken therefor, without any deduction for divi-
dends paid, or deductions on any other account, except for premiums
returned upon canceled policies derived from business in this State dur-
ing the preceding year ending the thirty-first day of December, the cor-
rectness of which report shall be examined into by the commissioner of
insurance; and it shall be his duty to file said report, when approved by
himself, with the auditor of public accounts.

Failure to make the report of premiums or assessments as herein re-
quired shall be fined fifty dollars for each day’s failure to report, said
fine to be imposed in the discretion of the circuit court of the city of
Richmond, upon the motion of the attorney general, after ten days’
notice, made at the request of the commissioner of insurance.

The commissioner of insurance shall, upon notification from the
auditor of public accounts that the tax on premiums, assessments, et
cetera, has not been paid, revoke the license issued the person, partner-
ship, company or corporation.

The auditor of public accounts shall, upon the failure of the pay-
ment of the tax on premiums, assessments, et cetera, add a penalty of
ten per centum of the amount of said tax to the same and proceed to
recover the penalty and the tax by suit in the circuit court of the city of
Richmond on the bond given to secure the payment of said tax.

§26. The real and personal property of every insurance company or
corporation, life, fire, marine, surety, mutual aid, mutual benefit, guar-
antee, sick benefit, employer’s liability, health, credit, fidelity, burglary,
accident, plate glass, steam boiler, torando, automatic sprinkler, assess-
ment, united brethren, live stock, and all like companies, 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 as-
sessed, and there shall be a tax of twenty cents on every hundred dol-
lars of the assessed value of the real estate and tangible personal property,
and a tax of twenty-five cents on every hundred dollars of the assessed
value of the intangible personal property of every such company or
corporation, the proceeds of which shall be applied to the support of the
government, and a further tax of ten cents on every hundred dollars of
the assessed value of all the real estate and personal property of such
company or corporation, which shall be applied to the support of the
public free schools of this State; and a further special tax of five cents
on every hundred dollars of the assessed value of the real estate and
tangible personal property of every such company or corporation, which
shall be applied to the payment of pensions.