Page:United States Statutes at Large Volume 48 Part 1.djvu/1157

 73d C ONGRESS. SESS. II. CH. 672 . JUN E 19, 1934. 1131 District of Columbia, said taxes to be paid b efore the 1st day of Payment. March of each year on the amount of such income for the year ending Dec ember 31 next pr eceding, in lieu of all other ta xes, exc ept taxe s upon real estate and fees and charges provided for in section 2 of this chapter. Ifa company shall cease to do business in the District it shall f ~WSen noti nbus ines s ther eupon make report to the Super intendent of the pre miums collected and the date whereon it ceased to do business subject to taxation under this Act and not theretofore reported and shall forth- with pay to the collector of taxes of the District of Columbia the tax thereon computed according tolaw. Ifa comp any re fuses to make any report for taxation or to pay rePenaorpayefusal to the tax imposed upon it as required by the law, it shall be liable to the District for the amount thereof and a penalty of 8 per centum per month for each month it has failed after demand therefor. Service of process in any action to recover such tax or penalty shall be made acc ording t o the re quiremen ts of th e law re lating t o action s brough t ag ainst compa nies. SEC. 4. TAX REFUNDS .-Whenever it appears to the satisfaction of Tax refunds . the Superin tendent that bec ause of some err or, mist ake, or erroneou s interpretation of a statute, a company has paid fees, charges, or ta xes in exce ss of the a mount lega lly ch argea ble a gainst it, the Su perint enden t sha ll, on appl icati on of the c ompan y, pre sent the matter to the Commissioners, with the view of refunding to such company any such excess, or applying the excess or portion thereof toward the payment of fees, charges, or taxes already due from such company. SEC. 5 . CERTIFICATE OF AUTHORITY .-It sha ll be the du ty of the,,,Y . ert ifica te o f aut hor- Superintendent to issue a certificate of authority to a. company when upo is sue neo toliac ewt] t it shall ha ve compl ied with the req uirement s of the laws of the Dis- requirements e trict so as to entitle it to do business therein. In each case the cer- tificate shall be issued under the seal of the Superintendent author- izing and empowering the company to transact the kind or kinds of business specified in the certificate. No company shall transact any ne5w aiihoiii~iaWr` 'ui bus iness of insuran ce in th e Distri ct until it shal l have r eceived a certificate of authority as herein prescribed and no company shall tra nsact an y busine ss of in surance not spec ified in such ce rtificat e of authority. Before a company shall be authorized to tra nsact business within the District the Superintendent shall be satisfied by such examination as he may make or such evidence as he may require that such company is duly qualified under the laws of the District to transact business therein. SEC. 6 . REVOCATION OF CERTIFICATE OF AUTHORITY .-If the Super- Revocation of certill- intendent shall find that a domestic, foreign or alien company is ca Gro unds for. insolvent, or that it does not have the surplus required by this Act and invested as by this Act required, or that it does not have the sur- plus or whose policyholders do not have the contingent assessment liability required by this Act ; or, if an alien company, that it does not have a surplus required by this Act and invested as by this Act required in the United States ; or, if an alien company, that it does not have the deposit required by this Act authorized capital of any domestic, foreign, or alien capital stock company is impaired and the companis not promptly restoring the deficiency or reducing its capital ; or,- that any domestic, foreign, or alien company has violated or failed to comply with the law or its charter ; or, that the company or any of its officers has willfully refused or failed to submit to examination or to perform any obliga- tion relative thereto, lie may revoke the certificate of authority of
 * or, if he finds that the