§ 13-97. Maximum amount of tax.

The maximum license tax on businesses under this article, payable to the parish by any insurer, shall not exceed $9,000.00. Plate glass and steam boiler inspection insurers shall pay one-third of the rates provided in section 13-96(b). The amount of license payable to the parish as fixed in this section shall be one-third of the amount so fixed if the payer shall file a sworn statement with the annual report required by R.S. Title 22, showing that at least one-sixth of the total admitted assets of the payer, less assets in an amount equal to the reserves on its policies issued in foreign countries in which it is authorized to do business and which countries require an investment therein as a condition of doing business, is invested and maintained, either in bonds of the state or in bonds of municipal, school, road or levee districts or other political subdivisions of this state, or in mortgages on property located in this state, or in real property in this state which shall be requisite for the convenient accommodation of the transaction of its own business, or in policy loans, or other loans to residents of this state or to corporations organized under the laws of this state and domiciled in this state, or in stock of homestead building or loan associations organized under the laws of this state, to the extent such stock is guaranteed or insured by the Federal Deposit Insurance Corporation or other federal or state agency.

(Ord. No. 14-89, § 3, 6-12-89)

State law reference

Authorization of local license taxes, R.S. 22:1076.