The license fee imposed upon each insurance company which issues life insurance policies on the lives of persons residing within the corporate limits of the city shall be 5% of the first year’s premiums actually collected within each calendar quarter by reason of the issuance of such policies. In the event that Metro Louisville shall impose a higher percentage than 5%, either as a fee for tax, then the rate imposed herein shall be automatically increased to equal but not exceed the rate imposed by Metro Louisville.
(Ord. 1, Series 2001, passed 1-11-2001; Ord. 1, Series 2019, passed 3-14-2019)