379.295. Returns and assessment to be made by director--collection and disposition of tax by the director of revenue.
Returns and assessment to be made by director--collection anddisposition of tax by the director of revenue.
379.295. 1. Every such company or association shall, on or before thefirst day of March in each year, make a return, verified by the affidavit ofits president and secretary or other chief officers, to the director of thedepartment of insurance, financial institutions and professional registration,in the form prescribed by him, stating the amount of all gross direct premiumsreceived, whether in cash, notes, credits or any other substitute for money,on contracts covering property, or risks located or resident in this state,during the year ending on the thirty-first day of December next preceding, andall credits to which such company or association shall be entitled under theprovisions of section 379.290.
2. Upon receipt of such returns, the director of the department ofinsurance, financial institutions and professional registration shall verifythe same and assess the tax upon various companies on the basis and at therate provided in section 379.290, and make a schedule thereof, duplicatecopies of which, properly certified by said director, shall be filed in theoffice of the director of revenue on or before the first day of April in eachyear.
3. Immediately thereafter the director of revenue shall notify thecompanies of the amount of taxes respectively due from them, and such taxesshall be paid to the director of revenue on or before the first day of Maynext ensuing.
4. If not so paid, the director of revenue shall certify such fact tothe director of the department of insurance, financial institutions andprofessional registration, who shall thereafter suspend such delinquentcompany or companies from the further transaction of business in this stateuntil such taxes shall be paid.
5. Upon receiving said money, the director of revenue shall deposit itin the state treasury and the state treasurer shall receipt one-half thereofinto the general revenue fund of the state, and he shall place the remainderof said tax to the credit of the county foreign insurance tax fund.
(L. 1941 p. 399 § 5968a, A.L. 1945 p. 1021)