§ 23-75-120 - Tax exemptions.
23-75-120. Tax exemptions.
(a) Every corporation doing business pursuant to this chapter is declared to be a nonprofit and benevolent institution.
(b) The corporations are exempt from state, county, district, municipal, and school tax, including the taxes prescribed by this code, and excepting only tax on net direct written premiums under 23-75-119 and 26-57-601 et seq. and applicable fees prescribed by 23-61-401 and other sections of this code, or the Insurance Commissioner's rules and regulations applicable to hospital and medical service corporations, and taxes on real and tangible personal property situated in this state.