§ 14-21. Insurance.

(a)

Unless otherwise provided in subsection (b) of this section, on each domestic, foreign and alien insurer engaged in the business of issuing insurance policies, contracts or obligations; or issuing endowment policies 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 be operating in the parish through an agent, other representative or otherwise, there is hereby imposed an annual license tax of ten dollars ($10.00) on annual premiums up to two thousand dollars ($2,000.00), and the additional license tax thereafter shall be seventy dollars ($70.00) on each ten thousand dollars ($10,000.00), or fraction thereof, of annual premiums in excess of two thousand dollars ($2,000.00); provided, however, that the maximum license tax on such businesses, payable to the parish by any one insurer shall not exceed twenty-one thousand dollars ($21,000.00).

(b)

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, workmen's compensation, employer's liability, property damage, livestock, vehicle, automatic sprinkler, burglary or insurance business of any other kind whatsoever in the parish, whether such insurer is operating in the parish through agents or other representatives or otherwise, there is hereby imposed an annual license tax according to the following classifications:

First: When the annual premiums are less than two thousand dollars ($2,000.00), the license tax shall be two (2) per cent of the gross receipts but shall not be less than ten dollars ($10.00).

Second: When the annual premiums are more than two thousand dollars ($2,000.00) but not more than four thousand dollars ($4,000.00), the license tax shall be sixty dollars ($60.00).

Third: When the annual premiums are more than four thousand dollars ($4,000.00) but not more than six thousand dollars ($6,000.00), the license tax shall be eighty dollars ($80.00).

Fourth: When the annual premiums are more than six thousand dollars ($6,000.00), the additional license tax thereafter shall be seventy dollars ($70.00) for each ten thousand dollars ($10,000.00), or fraction thereof, in excess of six thousand dollars ($6,000.00).

The annual premiums referred to in this section shall be the gross amount of direct premiums, excluding premiums on annuity contracts, for the preceding year less return premiums without any deductions for dividends paid or otherwise credited to policyholders, and without consideration for reinsurance.

(c)

The maximum license tax on such businesses, payable to the parish by any insurer, shall not exceed nine thousand dollars ($9,000.00). However, plate glass and steam boiler inspection insurers shall pay one-third of the rates provided in subsection (b) above and provided further that the amount of license payable to the parish as fixed in 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 Title 22, Section 1451 of the Louisiana Revised Statutes of 1950, 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 a condition of doing business, is invested and maintained, either in bonds of the State of Louisiana or in bonds of municipal, school, road or levee districts, or other political subdivisions of the State of Louisiana, or in mortgages on property located in the State of Louisiana, or in real property in the State of Louisiana which shall be requisite for the convenient accommodation of the transaction of its own business, or in policy loans, or other loans to residents of the State of Louisiana, or to corporations organized under the laws of Louisiana and domiciled in the State of Louisiana, or in stock of homestead, building or loan associations organized under the laws of Louisiana to the extent such stock is guaranteed or insured by the Federal Deposit Insurance Corporation, or other federal or state agency.

(Ord. No. 412, § 6, 1-19-83; Ord. No. 87-96, § 6, 6-11-87)

State law reference

Insurance tax authorized, R.S. 22:1076.