[R.O. 2011 § 655.010; R.O. 2009
§ 122.01; CC 1981 § 16-72]
A.
For the privilege of doing business within
the City, insurance companies shall be classified in the following
manner and shall pay the following occupational license fees:
1.
Insurance companies writing fire insurance policies along with any other type of insurance, exclusive of automobile fire insurance, shall pay, per annum, the amount stated in Section 150.030 plus three and six-tenths percent (3.6%) on all premiums on fire insurance policies, exclusive of automobile fire insurance.
[Ord. No. 22-168, 12-20-2022]
2.
Insurance companies writing fire
insurance only, exclusive of automobile fire insurance, shall pay
three and six-tenths percent (3.6%) on premiums for such policies,
exclusive of automobile fire insurance.
[R.O. 2011 § 655.020; R.O. 2009
§ 122.02; CC 1981 § 16-84]
All licenses issued pursuant to the
provisions of this Chapter shall expire on the following March thirty-first
(31st), it being the intention of this Section to fix March thirty-first
(31st) of each calendar year as the expiration date of all licenses
issued pursuant to the provisions of this Chapter.
[R.O. 2011 § 655.030; R.O. 2009
§ 122.03; CC 1981 § 16-85]
A.
Every insurance company writing policies of fire insurance on any or all classes of property located within the City, excepting only automobile fire insurance risks written under fire and transportation policies, shall pay an occupational fee as required by Section 655.010 on the percentage of the net gross premium or premium collected less all returned premiums actually paid to policy holders. Such license fee shall be computed on the business done from January 1 to December 31, inclusive, of the year preceding the year first for which the license is issued.
B.
Any such company commencing business shall
deposit with the City Collector the sum of thirty-five dollars ($35.00)
until the time for renewal of the license on or before April 1 the
following year, at which time any excess beyond three and six-tenths
percent (3.6%) of the net gross premiums collected less all returned
premiums actually paid to policy holders from the time of commencing
until January 1 shall be returned to such company or applied as credit
on the succeeding year's license.
C.
Any such company having been in business
less than twelve (12) months at the time for making the annual report
required by this Article shall, upon application for renewal of license,
pay to the City Collector three and six-tenths percent (3.6%) of the
sum calculated by prorating or proportioning the gross net premium
reported in the annual report to a twelve-month basis. Any excess
of the sum paid on this calculation over three and six-tenths percent
(3.6%) of the gross net premiums reported in the next annual report
shall be returned to such company or applied as a credit on the succeeding
year's license. The intent of this Section is that no such company
shall pay more than three and six-tenths percent (3.6%) of the gross
net premiums collected less all returned premiums actually paid to
policy holders for the privilege and right to do business in the City.
[R.O. 2011 § 655.040; R.O. 2009
§ 122.04; CC 1981 § 16-86]
The annual reports of insurance business
done during the preceding year and net premiums collected and retained
by insurance companies doing business and licensed to do business
under the terms and provisions of this Chapter shall be in writing
and compiled on a form to be furnished by the City Collector. Such
reports shall be made by an authorized representative of such insurance
company under oath to be administered by an officer possessing a seal.
[R.O. 2011 § 655.050; R.O. 2009
§ 122.05; CC 1981 § 16-87]
Every annual report, as referred to in Section 655.040, together with remittance for the total amount of fees due for the particular year, shall be made and filed and the fee paid on or before March 31 of each year.
[R.O. 2011 § 655.060; R.O. 2009
§ 122.06; CC 1981 § 16-88]
The insurance company or corporation,
against which an occupational license fee is levied pursuant to this
Chapter, shall be solely and primarily liable and responsible to the
City for the accounting for such fee and its payment and shall be
punishable under the laws of this State or other competent jurisdiction
for any false statements or representations made or set forth in any
written report hereinabove called for, for the purpose of calculating
the amount of the fee due to the City.
