INSURANCE 2157

An. Code, 1924, sec. 126. 1922, ch. 492, sec. 123.

160. (Tax on Premiums; Exemption.) The taxable premiums, or pre-
mium receipts, or premium deposits, of any mutual insurance company
organized in or admitted to this state, for the purpose of taxation under any
law of this state, shall be the gross premiums, or premium deposits, received
for insurance upon property or risks located in this state, deducting amounts
paid for reinsurance upon which a tax has been or is to be paid in this
state, and deducting premiums or premium deposits, upon policies not
taken, premiums, or premium deposits, returned on cancelled policies, and
any refund or return made to policyholders other than for losses. The
taxes and fees paid by mutual insurance companies under the provisions
of this sub-title shall be in lieu of all other fees, licenses and taxes, state,
county, and municipal, except such taxes on real estate and tangible per-
sonal property as may be levied under other provisions of law.

An. Code, 1924, sec. 127. 1922, ch. 492, sec. 124.

161. (Reinsurance.) Any such mutual insurance company organized
tinder the laws of or admitted to transact insurance in this state may by
policy, treaty or other agreement, cede to or accept from any insurance
company or insurer licensed in any state in the United States, reinsurance
upon the whole or any part of any risk or risks, with or without contingent
liability or participation, and with or without membership in such mutual
insurance company; provided, that no such reinsurance shall be effected
with any company or insurer disapproved therefor by written order of the
insurance commissioner filed in his office.

An. Code, 1924, sec. 128. 1922, ch. 492, sec. 125.

162. (Resident Agent; Policy Forms.) Any mutual insurance com-
pany organized outside of this state shall comply with the provisions of any
law requiring that policies shall be countersigned and delivered through a
resident agent that are applicable to stock insurance companies effecting the
same kinds of insurance; provided that this requirement shall not apply to
transactions of such companies which have no agents and pay no commis-
sions. Such company may insert in any form of policy prescribed by the
law of this state any provision or condition required by its plan of insurance
which are not inconsistent or in conflict with any law of this state. Such
policy in lieu of conforming to the language and form prescribed by such
law, may conform thereto in substance, if such policy includes a provision
or endorsement reciting that the policy shall be construed as if in the
language and form prescribed by such law, and a copy of such policy and
endorsement, if any, shall have been first filed with and shall not have been
disapproved by the commissioner.

An. Code, 1924, sec. 129. 1922, ch. 492, sec. 126.

163. (Dividends on Policies.) From time to time the directors of any
such company may, by vote, fix and determine the percentage of dividend
or expiration return of premium to be paid on expiring policies, which
percentages may differ, following the different loss experience of different
classes of risks of the same term. But all policies insuring risks in the same
classification, shall have an equal rate of dividend or expiration return of
premium for the same term, and in case of an assessment, the rate thereof