(A) On or before the last day of February of each year, every insurance company shall file with the County Treasurer a statement of the total amount of direct premiums received during the preceding calendar year for insurance on property or risks located within the county, less premiums returned to policy holders, premiums on policies not taken, and dividends paid or credited to policy holders.
(B) Upon filing the statement, an insurance company shall pay to the County Treasurer a license lax of 4.9% of the premiums received less the deductions provided for in division (A) above; provided, however, that the minimum annual license tax shall be $5.
(C) All license fees due from insurance companies shall be due and payable annually on or before the last day in February, and if not paid by this date, the insurance company shall be deemed delinquent and a penalty of 10% per annum may be added.
(D) The license fee for insurance companies entering business after the last day in February shall be due and payable at the time of establishing the business and if not paid within ten days shall be deemed delinquent and a penalty of 10% may be added.
(E) The County Treasurer shall deposit the license taxes collected pursuant to the provisions of this suchapter in a sinking fund to be designated as the “Daviess County Fire Protection Sinking Fund.” The Fund shall be used for fire protection equipment, Fire Department buildings and salaries, or incidental expenses for maintaining and equipping Daviess County Fire Departments; or used as security for the sale of revenue bonds commensurate with the above enumerated expenditures.
(Order 1973-06-25, passed 6-25-1973; Order 1974-01-01, passed 11-28-1973) Penalty, see § 110.99