HomeMy WebLinkAboutOrdinances Book 16, Page 135, No Ordinance Number135
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AN ORDINANCE AMENDING SECTION 64 OF THE "OCCUPATIONAL LICENSE
ORDINANCE -1967" WHICH WAS ADOPTED BY THE BOARD OF COMMISSIONERS ON
DECEMBER 20, 1966
BE IT ORDAINED BY THE BOARD OF COMMISSIONERS OF THE CITY OF
PADUCAH, KENTUCKY:
SECTION 1. That Section 64 of the "Occupational License
Ordinance -1967", which was adopted by the Board of Commissioners
on December 20, 1966, be, and the same is hereby , amended and re -
ordained so that said section as amended and reordained shall read
as follows:
"SECTION 64. Insurance. a. Ordinary life insurance. Each life.
insurance company doing business in the City of Paducah and writing ,
what is known as "ordinary life insurance" as distinguished from what
is known as "industrial life insurance" whether or not such company is
engaged in writing other lines of insurance for which a separate
license or licenses are required to be paid under the other paragraphs
of this section, shall pay an annual license tax of $93.75.
b. Industrial life insurance. Each life insurance company doing
business in the City of Paducah and writing what is known as "industrial
life insurance" as distinguished from "ordinary life insurance", whether
or not such company is engaged in writing ordinary life insurance or any
other line of insurance for which a separate license or licenses are
required to be paid under other paragraphs in this section, shall pay
an annual license tax of $125.00 where five (5) agents, solicitors and
collectors, or a lesser number than five (5) are employed during the
calendar year next preceding the year for which license taxes imposed
hereunder are due, and for each additional agent, solicitor or collector
employed at any time during said year the company shall pay an additional
annual license tax of $18.75.
C. Health and accident insurance. Each company doing business in
the City of Paducah and writing health and accident policies, whether or
not such company is engaged in writing other lines of insurance for which
a separate license or licenses are required to be paid under other
paragraphs of this section, shall pay an annual license tax of $50.00.
d. Fire insurance. Each fire insurance company shall pay an
annual license tax in an amount equal to two and one-half (2.5%) per cent
of all premiums received by said company within the preceding calendar
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year for insurance on property located within the corporate limits, but
in computing the amount of such tax the percentage on any premiums which
have been returned to policy holders shall not be included. Any fire
insurance company entering the city during the license year shall at the
end thereof promptly pay to the city the full amount of the tax on the
basis hereinabove provided.
e. Other insurance business. Each caaualty,mutual insurance
company, Lloyd's organization or reciprocal or inter -insurance exchange,
together with any finance company placing and/or collecting insurance
premiums on accounts handled by such company, and also each company
writing policies covering automobile liability, public liability, general
liability, manufacturer's public liability, elevator liability, contract-
or's liability, household liability, residence theft, paymaster robbery,
general burglary, bank burglary and robbery, forgery, mercantile safe
burglary, marine plate glass, messenger or interior robbery, automobile
collision, automobile fire and theft, all forms of surety bonds, and with
the exception of liability of employers for personal injury to their employ-
ees, or death caused thereby, under the provisions of workmen's Compensa-
tion Act, all other forms of liability, casualty and hazard insurance upon
persons and property not specifically enumerated herein, shall pay a
;icense tax in an amount equal to two and one-half (2.5/) per cent of all
premiums received by said company within the preceding calendar year on
risks located within the corporate limits of the City on those classes of
business which said company is authorized to transact, but in computing
the amount of such tax the percentage on any premiums which have been
returned to the policy holder shall not be included. Any such company
entering the cii:y during the license year shall at the end thereof
promptly pay to the city the full amount of the tax on the basis
hereinabove provided.
f. Minimum tax. The city shall collect an annual license tax
of $5.00 from any company whose tax on the percentage of premium basis
is less than $5.00."
SECTION 2. All ordinances and parts of ordinances in conflict
herewith are, to the extent of such conflict, hereby repealed.
SECTION 3. This ordinance shall be in full force and effect from
and after its adoption.
76) Mayor
Passed by the Board of Commissioners May 9, 1967
Recorded by Sarah Thurman, City Clerk, May 9, 1967.
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