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§ 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)
§ 112.04 DUE DATE OF FEES.
   All license fees imposed by this chapter shall be due no later than 30 days after the end of each calendar quarter. 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).
(Ord. 674-15, passed 3-16-2015; Ord. 2021-4, passed 3-15-2021)
§ 112.05 CATEGORIES AND BREAKDOWN.
   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/liability only;
   (B)   Automobile;
   (C)   Inland marine;
   (D)   Fire and allied perils;
   (E)   Health;
   (F)   Life; and
   (G)   All other risks.
(Ord. 674-15, passed 3-16-2015; Ord. 2021-4, passed 3-15-2021)
§ 112.06 TRANSMISSION OF ALL COLLECTIONS.
   The City Clerk is hereby directed to transmit a copy of this chapter and any amendment thereto to the Commissioner of Insurance of the commonwealth.
(Ord. 674-15, passed 3-16-2015; Ord. 2021-4, passed 3-15-2021)