No license or privilege tax or other charge for the privilege of doing business shall be imposed by any municipal corporation upon any fire or marine insurance company doing business in such municipality except upon a percentage of each $100.00 of gross premiums, less return premiums, on policies issued during the preceding year on property located in such municipality. Such percentage shall not exceed four percent on each $100.00 or major fraction thereof of such gross premiums, and no credit or deduction of any kind shall be allowed or made on account of the cost of reinsurance by such company in a company not authorized to do business in this state.
Any municipality may charge a flat minimum license at the beginning of each year for new companies doing business therein on which there shall be an adjustment at the expiration of such year upon such percentage as may be fixed by said municipality, but such percentage shall not exceed four percent of the gross premiums, less return premiums, collected by such companies on policies issued during the preceding year in such municipality.
Structure Code of Alabama
Title 11 - Counties and Municipal Corporations.
Title 2 - Provisions Applicable to Municipal Corporations Only.
Section 11-51-120 - Insurance Companies - Fire and Marine Insurance Companies.
Section 11-51-124 - Railroads.
Section 11-51-125 - Railway Sleeping Car Companies, Etc.
Section 11-51-126 - Express Companies.
Section 11-51-127 - Telegraph Companies.
Section 11-51-128 - Telephone Companies.
Section 11-51-129 - Street Railroads, Electric, Gas, and Waterworks Companies, Etc.
Section 11-51-131 - Savings and Loan Associations.
Section 11-51-132 - License Requirement or Tax on Certain Real Estate Companies Prohibited.