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§ 114.02 FEE FOR COMPANIES ISSUING LIFE INSURANCE POLICIES.
   The license fee imposed upon each insurance company which issues life insurance policies on the lives of person 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.
(Prior Code, § 114.02) (Ord. passed 10-29-1984; Ord. 2005-01, passed 1-24-2005; Ord. 2011-02, passed 3-15-2011)
Statutory reference:
   Related provisions, see KRS 91a.080(2)
§ 114.03 FEE FOR COMPANIES ISSUING INSURANCE POLICIES.
   The license fee imposed upon each insurance company which issues any insurance policy which is not a life insurance policy shall be 10% of the premiums actually collected within each calendar quarter by reason of the issuance of such policies on risks located within the corporate limits of the city on those classes of business which such company is authorized to transact, less all premiums returned to policy holders. The license fee imposed upon a health insurance policy shall remain at 5% and shall not apply to premiums received on policies of group health insurance provided for state employees under KRS 18A.225 or to premiums received on health insurance policies issued to individuals not to policies issued through Kentucky Access created in KRS 304.17B-005.
(Prior Code, § 114.03) (Ord. passed 10-29-1984; Ord. passed 7-27-1987; Ord. 2005-01, passed 1-24-2005; Ord. 2011-02, passed 3-15-2011)
Statutory reference:
   Related provisions, see KRS 91a.080(3),(10)
§ 114.04 DUE DATE; INTEREST.
   (A)   All license fees imposed by this chapter shall be due no later than 30 days after the end of each calendar quarter.
   (B)   License fees which are not paid on or before the due date shall bear interest at the tax interest rate as defined in KRS 131.010(6).
(Prior Code, § 114.04) (Ord. passed 10-29-1984)
Statutory reference:
   Related provisions, see KRS 91a.080(8),(9)
§ 114.05 WRITTEN BREAKDOWN OF COLLECTIONS.
   Every insurance company subject to the license fees imposed by this chapter shall annually, by March 31, furnish the city with a written breakdown of all collections in the preceding calendar year for the following categories of insurance:
   (A)   Casualty;
   (B)   Automobile;
   (C)   Inland marine;
   (D)   Fire and allied perils;
   (E)   Health; and
   (F)   Life.
(Prior Code, § 114.05) (Ord. passed 10-29-1984)
Statutory reference:
   Related provisions, see KRS 91a.080(8)
§ 114.06 EFFECTIVE DATE OF TAX; FEE.
   The City Council may change the license fee or rate of tax hereunder to be effective July 1 of each year on prospective basis only.
(Prior Code, § 114.06) (Ord. 2005-01, passed 1-24-2005; Ord. 2011-02, passed 3-15-2011)
§ 114.07 FILING OF NOTICE.
   The City Clerk/Treasurer shall file a copy of this chapter, and any amendment thereto, to the Commissioner of Insurance at least 100 days prior to the effective date. The Commissioner of Insurance shall promptly notify each insurance company engaged in the business of insurance in the commonwealth that the city has elected to impose this license fee or tax and the current amount of this license fee or rate of tax.
(Prior Code, § 114.07) (Ord. 2005-01, passed 1-24-2005; Ord. 2011-02, passed 3-15-2011)
§ 114.08 REQUEST FOR REFUND.
   (A)   No insurance company shall be entitled to a refund for any tax erroneously paid pursuant to the terms of this section unless the request for refund be made to the city in writing within 18 months of the end of the calendar year on which said tax is paid. Additionally, said request shall be accompanied by documentation supporting said request which shall include at least the following:
      (1)   The name and address of each and every insured upon whom tax was erroneously paid;
      (2)   The type of risk being insured against;
      (3)   The amount of the insurance premium charged by the company; and
      (4)   Such other information as may be reasonably requested by the city.
   (B)   Further, unless request for refund be made as set forth above, no set off may be made by the company for erroneously paid premiums against future taxes owed.
(Prior Code, § 114.08) (Ord. passed 6-18-2007)