§ 82-774. Maximum tax.

The maximum license tax levied under section 82-772 or 82-773 payable to the city-parish consolidated government by any insurer shall not exceed $9,000.00; provided that plate glass and steam boiler inspection insurers shall pay one-third of the rates provided in section 82-773; and provided further that the amount of license tax payable to the city-parish consolidated government as fixed in such section shall be one-third of the amount so fixed if the payer shall file a sworn statement with the annual report required by R.S. tit. 22, showing that at least one-sixth of the total admitted assets of the payer, less assets in an amount equal to the reserves on its policies issued in foreign countries in which it is authorized to do business and which countries require an investment therein as a condition of doing business, is invested and maintained either in bonds of the state or in bonds of municipal, school, road or levee districts or other political subdivisions of the state, or in mortgages on property located in the state, or in real property in the state which shall be requisite for the convenient accommodation of the transaction of its own business, or in policy loans or other loans to residents of the state or to corporations organized under the laws of the state and domiciled in the state, or in stock of homestead building or loan associations organized under the laws of the state, to the extent such stock is guaranteed or insured by the Federal Deposit Insurance Corporation or other federal or state agency.

(City Code 1965, § 21-222)