CHAPTER 61:  INSURANCE LICENSES*
Section
   61.001         License fee imposed
   61.002         Amount of fee; life insurance
   61.003         Amount of fee; other policies
   61.004         Payment due date
   61.005         Reports
   61.006         Sworn statement of officer or agent required
   61.007         Use of license taxes
 
   61.999         Penalty
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*Cross reference:
   Occupational licenses, see Ch. 60
§ 61.001  LICENSE FEE IMPOSED
   There is hereby imposed on each insurance company, a license fee for the privilege of engaging in the business of insurance within the city limits on a calendar year basis.
(Ord. 35-84, § I, passed 10-9-84)
§ 61.002  AMOUNT OF FEE; LIFE INSURANCE
   The license fee imposed upon each insurance company which issues life insurance policies on the lives of persons residing within the city limits shall be ten percent (10%) of the first year's premiums actually collected within each calendar quarter by reason of the issuance of such policies.
(Ord. 35-84, § II, passed 10-9-84; Am. Ord. 2003-3, passed 3-14-03)
§ 61.003  AMOUNT OF FEE; OTHER POLICIES
   (A)   The license fee imposed upon each insurance company which issues any insurance policy which is not a life insurance policy shall be ten percent (10%) of the premiums actually collected within each calendar year by reason of the issuance of such policies on risks located within the city limits on those classes of business which such company is authorized to transact, less all premiums returned to the policy holder.
   (B)   Any license fee or tax imposed upon premium receipts shall not include premiums received for insuring employers against liability for personal injuries to their employees, or death caused thereby, under the provisions of the Workers' Compensation Act and shall not include premiums received on policies of group health insurance provided for state employees under KRS 18A.225(2), health insurance policies issued to individuals, and policies issued through Kentucky Access created in KRS 304.17B-005.
(Ord. 35-84, § III, passed 10-9-84; Am. Ord. 2003-3, passed 3-14-03)
§  61.004  PAYMENT DUE DATE
   All license fees imposed by this chapter shall be due no later than thirty (30) calendar days after the end of each calendar quarter.
(Ord. 35-84, § IV, passed 10-9-84)
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Cross reference:
   Penalty for violation, see § 61.999
§ 61.005  REPORTS
   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.
(Ord. 35-84, § V, passed 10-9-84)
§ 61.006  SWORN STATEMENT OF OFFICER OR AGENT REQUIRED
   A sworn statement of the computation of the license fee imposed by this chapter, made at the home office of the insurance company or by its principal officer or agent in the city, shall be furnished the city at the same time the license tax is due.
(1976 Code, § 10-58)
§ 61.007  USE OF LICENSE TAXES
   All license taxes on insurance companies imposed by this chapter shall be deemed for the purpose of aiding in defraying the general expenses and maintaining the government of the city and shall be apportioned to the various municipal departments as the commission may, from time to time, direct, and, in the absence of specific allocation, shall be deemed a part of the general funds of the city.
(1976 Code, § 10-60)
§ 61.999  PENALTY
   License fees which are not paid on or before the due date provided in § 61.004 shall bear interest at the tax interest rate as defined in KRS 131.010(6))
(Ord. 35-84, §  IV, passed 10-9-84)