The Manchester journal. [volume] (Manchester, Vt.) 1861-current, 1919-04-24

PLACING OF INSURANCE IN
COMPANIES NOT AUTHOR
IZED rs DO BUSINESS IN THE
STATE AND LEVYING A TAX
ON SUCH COMPANIES.
II is hereby enacted by the General
Assembly of the State OF Vermont:
Section I. All persons, companies,
associations or corporations residing or
doing business in this state that enter
into any agreements with an insurance
company association, individual, firm,
underwater or Lloyd. not authorized to
do business in this state, whereby said
person, company, association or corpora
ton shall enter into contracts OF IN
surance covering risks within this state,
with said unauthorized association, in
dividual, firm, underwater or Lloyd,
for which there is a premium charged
OF or collected from said person, COM
pany. association, or corporation so IN.
sured, shall, annually on the first day OF
December or within ten days thereafter,
return to the tax commissioner a state
ment, under oath, of all policies or con-
tracts Of insurance or indemnity taken
by said person, company, association or
corporation during the preceding twelve
months Such statement shall show the
amount OF insurance and the gross pre-
mums paid to each stock company tor
insurance during the period covered by
such statement and there may be de-
Quoted from the gross premiums any
premiums returned to the insured on
policies cancelled where such policies
have been issued during the term COW
cred by the statement, or premiums re-
turned on policies cancelled where such
original premiums have been previously
taxed under this act; or II the insur-
ance or indemnity is with mutual
, company or association or individual
or through an attorney for individuals,
partnerships or corporations. or trm or
Lloyds. such statement shall show the
amount OF insurance or indemnity and
gross premium or deposits or payment
made TO secure such insurance or indem-
nifty and from said gross premium or
deposit or payment there may be de-
Quoted any premiums returned to the in
sured on policies cancelled where such
policies have been issued during the
term covered by the statement or pre-
miuus returned on policies cancelled
where Such original premiums have been
previously taxed under this act. The
tax commissioner shall give notice 10
each person, company, association or
corporation filing such return OF the
amount of his tax, computed at three
per cent OF the gross premiums or de-
post or payment made 10 secure the IN
suranee or indemnity and said tax IS
hereby assessed and shall be payable TO
the state treasurer on or before the
thirty-hrst day OF December following
Sec. 2 A person, company, associa-
ton or corporation falling or refusing
to make the report required N section
one OF this act and 10 furnish all the
data and information that may be re-
CURED BY the tax commissioner 70 deter
mine the amour, due, shall be fined not
more than FIVE hundred dollars nor less
than one hundred dollars for each
offense
Sec. ). The provisions Of this act
shall not be construed as extending TO
fraternal beneficiary associations, or
members thereof; or 70 mutual church
insurance companies conducted for the
protection Of properties used in the serv-
ice OF religious DENOMINATIONS, or mem
bers thereof; or Ge provisions Of this
&C; shall no, be coAstfned as extending
10 insurance in Unauthorized companies,
written BY special h1rrance brokers,