Clinch Valley news. [volume] (Jeffersonville, Va.) 18??-2019, 1914-11-27
WAR TAX STAMPS
ON NEW POLICIES
Insurance Agents Will Put
Stamps on Policies and Collect
Amount from Party Insured
Board Resolution.

There has been considerable dds
cussion among local insurance peopl,
1or the past week as to the effect tn,
new emergency revenue law would
nave on the local agencies and thei,
customers and for the information OF
our readers we quote below extracts
q from the law as enacted by congress
together with copy of resolutions
Z adopted by the National Board of Fire
Underwriters of New York, who di.
rect the operations of the fire insur-
ance business of the country.
~ Emergency Revenue Law.
Schedule AAInsurance: Each pol
icy OF insurance or other instrument
by whatever name thes anne shall be
called, by which insurance shall be
made or renewed upon property of
any description (incIuding rents or
profits), whether against peril by sea
or on inland waters, or by fire or
lightning, or other peril, made by any
person, association, or corporation.
upon the amount of premium charged,
one-half of one cent on each dollar or
fractional part thereof:
Section 5. That on and after the
nrst day OF December, nineteen hun
dred and fourteen, there shall be lev
led, collected, and paid, for and in
respect of the several bonds, deben-
lures, or certificates of stock and of
Indebtedness, and other documents.
instruments, matters, and things mer,
toned and described in Schedule A of
this Act, or for or in respect of the
vellum, parchment, or paper upon
which such instruments, matters. or
things, or any of them, shall be writ
ten or printed by any person or per-
sons, or party who shall make, sign,
or issue the same, or for whose use
or benefit the same shall be made.
signed, or issued, the several taxes or
sums OF money set down in figures
against the same, respectively, or
otherwise specified or so forth i'm the
said schedule.
Section 6. That any person or
persons shall make, sign, or issue, or
cause to be made. signed, or issued.
any instrument, document, or paper
of any kind or description Whatsoever,
without the same being duly STAMPED
for denoting the tax hereby imposed
thereon, or without having thereupon
an adhesive stamp to denote said tax,
such person or persons shall be deem
ed guilty of misdemeanor, and upon
conviction thereof shall pay a fine of
not more than 500, at the discretion
of the court.
Section s. That in any and all cases
where an adhesive stamp shall be
used for denoting any tax imposed
by this Act, except as hereinafter pro-
vided, the person using or affixing the
same shall write or stamp thereupon
the initials of his name and the date
upon which the same shall be attached
os used, so that the same may not
again be used. And if any person
shall fraudulently make use of an adj
hesive stamp to denote any tax i'm
posed by this act without so effectual-
ly canceling and obliterating such
stamp, except as before mentioned, he,
she, or they shall be deemed guilty of
a misdemeanor, and upon conviction
thereof shall pay fine of not ex-
ceeding $500, or be imprisoned not
more than six months, or both, at the
discretion of the court.
Resolutions.
Whereas, owing to the fact that
every policy issued must bear rev.
enue stamp, while no rebates will be
allowed on account of cancellations or