§ 10-69. Insurance other than life, accident, health; amount of license tax.

(a)

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 representatives or otherwise, not more than the following:

(1)

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

(2)

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;

(3)

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;

(4)

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;

(5)

Maximum. 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 rates provided in subsection (b) of this section.

(b)

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 R.S. title 22, chapter 1, part XXIII (R.S. 22:1, XXIII), showing that at least one-sixth of the total admitted assets of the payer are invested and maintained in qualifying state investments as defined in R.S. 22:832(C).

(Code 1968, § 12-47; Ord. No. 277, § 3, 12-11-1962; Ord. No. 502, § 1, 2-2-1993; Ord. No. 2007-03, § 1(2), 4-3-2007)