The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1903-03-01
WILL SAVE
OKLAHOMA
SOME MONEY
Measure Been Prepared and
Will be introduced.
TAXINSURANCECOMP
Two Per Cent on Gross Earn
ings in Oklahoma.

Guthrie. o. T., Feb. "a measure by
which it is believed that at least 81, o.,
| Will be turned into the territorial treas
ury. has been prepared in the office of
I Secretary William Grimes. and intro
oGced IN the house by ecker, OF Grant
The bill places two per cent tax upon
theg ross earnings of all insurance COM
panies doing business in Oklahoma.
The full text OF the measure is as fol-
lows:
An Act TO Tax Insurance Companies and
Authorize Them to Do Business.
Be 1t Enacted by the Legislative AS
senbly of the Territory of Oklahoma:
/ Section l. That in addition TO such other
/ requirements as may be imposed by law.
every insurance company. whenever in
corporated. shall comply with the provi-
sions of this act as a condition prece-
dent to the right to do business in the
territory OF Oklahoma.
Sec. ?. Thatp rior to the first day OF
March each year. such company shall file
with the commissioner of insurance a
statement in writing, verified by the oath
OF its president, secretary or general
agent. setting forth and showing the
gross premiums (gross premiums) is de-
fined as the total amount OF premiums
on all policies issued, less the amount Of
premiums returned on policies not taken
and cancelled; and less premiums paid
for reinsurance to companies authorized
to do business in this territory paid and
unapid, earned or contributed for on bus
preceding calendar year up to and includ-
ing the last day OF December. including
all premiums paid or contracted TO be
paid for insurance, whether to the COM
pany or its agents.
Sec. s. That at the time of. or after,
the filing of such statement. and in every
case prior TO the first day OF March each
year. such company shall pay into the
treasury of the territory sum equal to
two per cent Of all such premiums so
contracted. earned or paid. which shall
he in lieu of all taxes for the preceding
year. except taxes upon real property:
ard no tax shall be imposed upon such
company or its agents in addition thereto.
except upon real property. by the terri
tory. or in any county or municipality
therein.
Sec. 4. That the treasurer of the terri
tory shall issue his receipt in duplicate
for every such payment and upon pre-
sentation thereof to the commissioner
OF insurance, such commissioner shall
Issue his certificate recitinE compile
ance by such company with the pro-
visions Of this act. which certificate shall
entitle the company to do business in the
territory until the expiration OF the time
within which it must make sue state
ment and payment for the following year.
Sec. s. That the companies doing bust
ness in the territory prior to the first
day Of January, 1908. shall comply with
this act and make the statement and
payment herein provided for within sixty
days after the approval hereof such
statement to show all premiums contract
ed during the year preceding the said
first day of January. and such payment
to be paid by the company as taxes for
the preceding year to the territory, or
some county or municipality thereof. for
which the territory shall give credit upon
the presentation to the territorial treas
urer Of the receipts showing that such
tax has been paid, and not upon any
other showing.
Sec. 6. The word insurance" as under
stood by this act shall include life. health
burglary. accident. casualty. fidelity.
guaranty. fire. lightning and tornado in
surance and being understood 10 be a
system Of business by which one party.
for an agreed consideration. proportionate
to the risk involved. undertakes for a
specified sum and under stimulated condi-
lions, TO indemnify another against pecu-
MARY loss arising from the destruction
Of or injury to property or life from GER
tain perils. accidents or disease or 20 pay
q stipulated sum upon the death or physi-
cal disability OF a specified person, or
upon his or her attaining a certain age
Sec. Z That the insurance commissioner
shall receive the following fees for per-
forming the duties herein prescribed: Ex-
aiming statement 3; fling statement
g: issuing license. 81: Issuing license 20
each agent. fifty cents
Sec S Any person or firm IN this ter
ritory who receives or receipts for any
money on account Of. or for any contract
OF insurance made By him or them. or
tor any such insurance company or In
sividual aforesaid for n policy OF inslIr-
ance OF any renewal thereof. although
such policy Is not signed ~ him or them.
az agent or agents Of such company. OF
who in anywise directly or Indirectly
makes. or causes 20 Be made. any con
tracts 81 Insurance fer or on account Of
such insurance company aforesaid. shan
Be deemed Ia all inteutz and purposes an
agent or agents q rsch company snd
snafi be required q hold licerse or GER
tihcate Issued b the commissioner q In
surance.
Sec 3. Any person. firm or corporation.
violating re provisions q iris act. UPON
conviction thereof. shsii be isafle % q
a-e not n exceed aTe hundred soIis-s.
Sec s. AT acts ard parfs q acts r.
conasct hsre~ifh are hereby repealed
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