(A) The license fee or tax upon an insurance company with respect to life insurance policies shall be based upon the first year’s premium, and shall be applied to the amount of such premium actually collected within each calendar quarter upon the lives of persons residing within the corporate limits of the city.
(B) The license fee or tax rate levied upon companies which issue life insurance policies, as provided in division (A) above, is 10% of the first year’s premiums.
(Prior Code, § 113.03) (Ord. passed 8-6-1990; Ord. 2005-02, passed 3-28-2005)