Page:United States Statutes at Large Volume 68A.djvu/562

 522

INTERNAL REVENUE CODE OF 1954

(2) a foreign corporation, foreign partnership, or nonresident individual, engaged in a trade or business within the United States, with respect to hazards, risks, or liabilities within the United States. (e) POLICY OF L I F E, SICKNESS, OR ACCIDENT INSURANCE, OR ANNUITY CONTRACT.—For the purpose of section 4371(2), the term

"policy of life, sickness, or accident insurance, or annuity contract" means any policy or other instrument by whatever name called whereby a contract of insurance or an annuity contract is made, continued, or renewed with respect to the life or hazards to the person of a citizen or resident of the United States. (f) POLICY OF REINSURANCE.—For the purpose of section 4371(3),

the term "policy of reinsurance" means any policy or other instrument by whatever name called whereby a contract of reinsurance is made, continued, or renewed against, or with respect to, any of the hazards, risks, losses, or liabilities covered by contracts taxable under paragraph (1) or (2) of section 4371. SEC. 4373. EXEMPTIONS.

The tax imposed by section 4371 shall not apply to— (1) DOMESTIC AGENT.—Any policy, indemnity bond, or annuity contract signed or countersigned by an officer or agent of the insurer in a State, Territory, or District of the United States within which such insurer is authorized to do business; or (2) INDEMNITY BOND.—Any indemnity bond required to be filed by any person to secure payment of any pension, allowance, allotment, relief, or insurance by the United States, or to secure a duplicate for, or the payment of, any bond, note, certificate of indebtedness, war-saving certificate, warrant or check, issued by the United States. SEC. 4374. AFFIXING OF STAMPS.

Any person to or for whom or in whose name any policy, indemnity bond, or annuity contract referred to in section 4371 is issued, or any solicitor or broker acting for or on behalf of such person in the procurement of any such instrument, shall affix the proper stamps to such instrument. SEC. 4375. CROSS REFERENCES. For penalties and other general and administrative provisions, see section 4383 and subtitle F.

§ 4372(d)(2)

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