Burlington weekly free press. [volume] (Burlington, Vt.) 1866-1928, 1919-04-23

AN ACT RELATING 10 The
PLACING OF INSURANCE IN
COMPANIES NOT AUTHOR
lied TO DO BUSINESS IN THE
STATE AND LEVYING A TAX
ON SUCH COMPANIES.
1t 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 state
mcnt, 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-
miums paid to each stock company for
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-
Iyhare
original premiums have been previously
taxed under this act; or if the insur-
ance or indemnity is with a mutual
. company or association or individual
or through an attorney for individuals,
partnerships or corporations, or firm 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-
/ miums returned on policies cancelled
where such original premiums have been
previously taxed under this act The
tax commissioner shall give notice to
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 to secure the in
surance or indemnity and said tax is
hereby assessed and shall be payable to
the state treasurer or or before the
thirty-first day of December following.
Sec. 2. A person, company. associa-
ton or corporation failing or refusing
to make the report required in section
one of this act and to furnish all the
data and information that may be re-
um;rcd bv the tax commissioner to deter
mine the amount due, shall be fined not
more than FIVE hundred dollars nor less
than one hundred dollars for each
offense.
shall not be construed as extending to
fraternal beneficiary associations, or
members thereof; or to mutual church
Insurance companies conducted for the
nrotection OF properties used in the serv-
ZEE Of religious denominations, or mem
hers - thereof; or the provisions of this
act shall not be construed as extending
TO insurance in unauthorized companies,
| v, written by special insurance brokers'