§ 26-76. Levied.

There is hereby imposed and levied an annual license tax on any insurer engaged in the business of issuing any form of insurance policy or contract, which may now or hereafter be subject to the payment of any license tax for state purposes, all as authorized by Section 1076 of Title 22 of the Louisiana Revised Statutes of 1950 on risks located in this municipality as follows:

(1)

On any insurer engaged in the business of issuing life or accident or health insurance policies other than programs of benefits authorized or provided pursuant to the provisions of Parts I and H of Chapter 12 of Title 42 of the Louisiana Revised Statutes of 1950, or other forms of contracts or obligations covering such risks, or issuing endowment or annuity policies, or contracts, 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 by operating in this state through an agent or other representative or otherwise;

(a)

Ten Dollars on gross annual premiums up to $2,000.00 and an additional license thereafter of $70.00 on each $10,000.00, or fraction thereof, of gross annual premiums in excess of $2,000.00;

(b)

The maximum license on such businesses, payable to this municipality by any one insurer, shall be $21,000.00.

(2)

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, worker's compensation, employers' liability, property damage, live stock, vehicle, automatic sprinkler, burglary, or insurance business of any other kind whatsoever in this state, whether such insurer is operating in this state through agents or other representative or otherwise, not more than the following:

(a)

1st Class: When the gross receipts are not more than $2,000.00, the license shall be $40.00;

(b)

2nd Class: When the gross receipts are more than $2,000.00 and not more than $4,000.00, the license shall be $60.00;

(c)

3rd Class: When the gross receipts are more than $4,000.00, and not more than $6,000.00, the license shall be $80.00;

(d)

4th Class: When the gross receipts exceed $6,000.00, the additional license thereafter shall be $70.00 for each $10,000.00, or fraction thereof, in excess of $6,000.00;

(e)

The maximum license tax on such businesses, payable to this municipality by any insurer shall be $9,000.00, provided that plate glass and steam boiler inspection insurers shall pay only one-third of the above rates provided in subsection (2).

(3)

The amount of license payable to this municipality as fixed by 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 L. R. S. Title 22, Chapter 1, Part XXIII, showing that at least one-sixth of the total admitted assets of the payer, are invested and maintained in qualifying Louisiana investments as defined in L. R. S. 22:1068(C).

(Ord. No. 953, 10-11-99; Ord. No. 970, 12-10-01)