The Insurance Tax.

The Insurance Tax.

The following is the amendment to the Two Per Cent Tax Law, adopted at the last Session of the Legislature:

SECTION 1. Section three of chapter 465 of the laws of 1875, entitled “An act to require the payment of certain premiums to the Fire Departments of cities and incorporated villages, by fire insurance companies not organized under the laws of the State of New York but doing business therein,” is hereby amended so as to read as follows:

SEC. 3. Every person who shall effect, agree to effect, promise or procure any insurance specified in the preceding section of this act, without having executed and delivered the bond required bv the preceding sections, shall for each offense forfeit $201 for the use and benefit of the Fire Department of such city and village; such penalty of $200 shall be collected by and in the name of the Fire department of the city or village in which the property insured or agreed to be insured is situate. And the treasurer or chief financial officer of any city or incorporated village, having no incorportr-d Fire Department or incor porated Fireman’s Relief or Benevolent Society, receiving any money under the provisions of chapter 465 of the laws of 1875, as amended by chapter 359 of the laws of 1876, shall on or before the 15th day of November, in each year, apportion and pay over all such moneys so received to the Treasurers of the several Fire Companies as are duly recognized by the Common Council or Trustees of suen city or vil’age. And if he shall neglect or refuse to perform any or all of these duties required by this act, he shall be subject to a penalty of $200 for such neglect or refusal; and the Foreman of anv Fire Company shall be entitled to and may maintain an action and sue for, in the name of and for the benefit of such Fire Company, any of the proportion of penalties prescribed by this act, and premiums or penalties to which such Company may be entitled, under chapter 465 of the laws of 1875, as amended by chapter 349 of the laws of 1876.

Sue, 2. This act shall take effect immediately.

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