Arizona republican., 1913-12-04
INSURANCE COMPANIES
 MAY PAY l5 PER CENT
If They Are Not Authorized to do
 Business in State Says Bullard.

Practically $S00O was added to the coffers of the state yesterday by the decision of Attorney General of assessment taxes each fire in surance company should pay on business contracted by unauthorized companies doing business within the state.
 By the provisions of the law passed by the last legislature, and effective on the first day of October each unauthorized company in the state will be required to pay 15 per cent on business written in this state. The conflict came as to whether the law required this payment from the first of October till the end of the present wear, or for the whole year. In the former case the revenue to the state would have been 5000, but by extending the time so that it makes these unauthorized companies pay their tax for the whole of the year a revenue equal to some $10,000 will be collected.
 The clause in the new insurance code which requires this payment follows:
 Insurance in Unauthorized Companies to be Reported and Tax Paid Thereon
 All persons, partnerships, asso- citations, companies or corporations residing or doing business in this state that enter into any agree ment With any insurance company association. individual, firm, under writer or Lloyd, not authorized to do business in this state. whereby said person, partnership, association, com pany or corporation shall enter into
  within this state with such unauth- oriZed company, association, indi- vidual, firm. underwater, or Lloyd, for which there is a premium charged or collected, the said person, partner ship. company. association or cor pOratiOn so insured, shall annually on the first day of December. or with in ten days thereafter, return to the corporation commission a statement under oath of all actual cost of in demnity and gross premiums charged, paid or payable for the twelve months preceding on policies or con tracts of insurance taken by the said person, partnership, company, association or corporation, and shall, at the same time pay to the state treasurer a tax of fifteen per centum of such actual cost of indemnity,
 
 payable to any such company, as sociation. firm. individual, under writer or Lloyd
 Any person, partnership, company, association or corporation failing or refusing to make the report required. and to furnish all the data and in format tion that may be required by the corporation commission to de- termine the amount due, shall be deemed guilty of a misdemeanor and upon conviction be fined not less than five hundred dollars nor more than twenty-five hundred dollars for such offense.
 The corporation commissioner or it's examiner shall have the right at any time to inspect any policy, GOV ering any risk in this state, and every policy holder shall produce and exhibit any policy. covering any risk in this state in his or their posses sion or control when required for the inspection of the corporation commis- sion or it's examiner. Any person, partnership, company, association or corporation refusing or neglecting to exhibit any policy when so required shall be fined in any sum not ex- cecding one hundred dollars for each such refusal or neglect"