Pennsylvania Act 1945-332 — RELATING TO THE TAX LIABILITY OF INSURANCE COMPANIES

Act text

RELATING TO THE TAX LIABILITY OF INSURANCE COMPANIES
                  Act of May 22, 1945, P.L. 828, No. 332              Cl. 40
                                  AN ACT

     To enable domestic stock and mutual insurance companies to
        comply with the taxing statutes, and to relieve officers,
        directors and trustees of domestic stock and mutual insurance
        companies of personal liability by reason of the payment or
        determination not to contest payment of any license, excise,
        privilege, premium, occupation, or other fee, or tax, imposed
        by any State or political subdivision thereof.

        The General Assembly of the Commonwealth of Pennsylvania
     hereby enacts as follows:

        Section 1.  The provisions of this act shall apply to
     domestic stock and mutual insurance companies and to the
     officers, directors and trustees of domestic stock or mutual
     insurance companies.
        Section 2.  Every domestic stock and mutual insurer shall
     have power to comply with any statute, ordinance or other law of
     any state, territory or political subdivision thereof (including
     the District of Columbia) imposing any license, excise,
     privilege, premium, occupation, or other fee, or tax, and to pay
     such fee or tax, unless prior to such payment such statute,
     ordinance or other law shall have been expressly held invalid by
     the State court having final appellate jurisdiction in the
     premises, or by the Supreme Court of the United States.
        Section 3.  No officer, director or trustee of any domestic
     stock or mutual insurance company shall be subject to any
     personal liability by reason of any payment or determination not
     to contest payment of any license, excise, privilege, premium,
     occupation, or other fee, or tax, to any state, territory or
     political subdivision thereof (including the District of
     Columbia) deemed by the officers, directors or trustees to be in
     the corporate interests of such insurer, unless prior to such
     payment the statute, ordinance or other law imposing such fee or
     tax, shall have been expressly held invalid by the State court
     having final appellate jurisdiction in the premises, or by the
     Supreme Court of the United States.
        Section 4.  This act shall be applicable to acts done and
     payments made subsequent to the fifth day of June, one thousand
     nine hundred forty-four: Provided, however, That nothing
     contained herein shall be construed as directly or indirectly
     limiting, minimizing or interpreting the rights and powers of
     insurers and their officers, directors and trustees, heretofore
     existing.
        Section 5.  All acts and parts of acts inconsistent herewith
     are hereby repealed.
        Section 6.  The provisions of this act shall become effective
     immediately upon final enactment.