40-2802. Same; tax in lieu of ad valorem levies.

40-2802

Chapter 40.--INSURANCE Article 28.--TAXATION OF COMPANIES

      40-2802.   Same; tax in lieu of ad valorem levies.The tax levied under the provisions of this act shall be in lieu of advalorem taxes which might otherwise be imposed by the state or politicalsubdivisions thereof upon shares of capital stock and other intangibleassets owned by such company.

      History:   L. 1970, ch. 184, § 2; Jan. 1, 1971.