CHAPTER 112: INSURANCE COMPANIES
Section
   112.01   Annual license fee
   112.02   Collection
   112.03   Life insurance policies and other policies
   112.04   Due date of fees
   112.05   Categories and breakdown
   112.06   Transmission of all collections
§ 112.01 ANNUAL LICENSE FEE.
   There is hereby imposed on each insurance company a license fee for the privilege of engaging in the business of insurance within the corporate limits of the city for the calendar year 2021, and thereafter on a calendar year basis.
(Ord. 674-15, passed 3-16-2015; Ord. 2021-4, passed 3-15-2021)
§ 112.02 COLLECTION.
   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 8% of the first year’s premium actually collected within each calendar quarter by reason of the issuance of such policies.
(Ord. 674-15, passed 3-16-2015; Ord. 2021-4, passed 3-15-2021)
§ 112.03 LIFE INSURANCE POLICIES AND OTHER POLICIES.
   The license fee imposed upon each insurance company which issues any insurance policy which is not a life insurance policy shall be 8% 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 businesses to policyholders; however, 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 Worker’s Compensation Act and shall not include premiums received on policies of group health insurance provided for state employees under KRS 18A.225(2).
(Ord. 674-15, passed 3-16-2015; Ord. 2021-4, passed 3-15-2021)
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