486 LAWS OF MARYLAND. [CH. 277

County and the name of the incorporated city, town or village
in which he resides.

The remainder of the taxes collected shall be paid into the
general treasury of the State and distributed therefrom in the
manner and for the purposes set forth in the Budget.

SEC. 13. And be it further enacted, That Section 40A of
Article 19 of the Annotated Code of Maryland (1935 Supple-
ment), title "Comptroller", as enacted by Chapter 11 of the
Acts of the Special Session of 1937, be and the same is hereby
repealed.

SEC. 14. And be it further enacted, That Section 39 of Article
48A of the Code of Public General Laws of Maryland, title
"Insurance", sub-title "General Provisions", be, and the same
is hereby repealed and re-enacted, with amendments, to read
as follows:

39. Tax on Premiums. Every insurance company (domestic
or foreign) writing life, fire, marine, fidelity, surety, casualty,
liability or compensation insurance, except domestic mutual
fire insurance companies, shall pay annually to the In-
surance Commissioner a tax on new and renewal gross
direct premiums written in this State, but not on deposits re-
ceived under annuity contracts issued in this State, during
the preceding year, without deduction for any cause whatever
except as herein provided, which said tax shall be at the rate
of one and one-half per cent, in the case of life insurance
writings, and two per cent, in the case of all other writings.
A report under oath of the premiums so written during
the preceding year must be made to the Insurance Com-
missioner in January 1940 and in January of each suc-
ceeding year by the chief accounting officer or officers of such
company, and the premium tax as above on each premium
written in this State shall be due and payable when said pre-
mium is written, but for convenience of payment, the com-
pany may report and pay same in the month of January fol-
lowing, except in the case of companies retiring from the
State, either voluntarily or involuntarily, in which case the
tax shall be reported and paid immediately after so retiring.
All premium taxes due and payable as above that remain
unpaid after March first, or thirty days after a company shall
have voluntarily retired from this State subsequently to
March first of any year, or six months after the date any com-
pany is taken over for liquidation or rehabilitation, shall be
subject to a penalty of five per cent, and interest at the rate
of one per cent, per month from January first, except that in-
terest shall be computed from the date of retiring in the case
of any company voluntarily or involuntarily retiring from