CHAPTER 452

An Act to amend and reenact § 58-494, as amended, of the Code of
Virginia, relating to exemption from license taxation of certain mutual
assessment fire insurance companies.

[S 250]

Approved March 31, 1960

Be it enacted by the General Assembly of Virginia:

1. That § 58-494, as amended, of the Code of Virginia, be amended and
reenacted as follows: ,

§ 58-494. No Jicense tax for transacting insurance shall be imposed
upon any mutual assessment fire insurance company as defined in § 38.1-659
which confines its business to not more than four contiguous counties and
cities located therein and wholly surrounded thereby in this State, if any
such city has a population of not more than * thirty thousand nor less
than ten thousand five hundred, or which confines its business to more
than four contiguous counties in this State if such counties together have
a& population not in excess of one hundred thousand.