62 Ga. 379 | Ga. | 1879
This was a bill filed by the complainants against the defendants with a prayer for an injunction upon the allegations contained therein. On the hearing of the application the chancellor, after considering the same, the answer of defendants, and the affidavit filed therewith, granted the injunction prayed for. Whereupon the defendants excepted.
‘1 Whenever the existing or future laws of any other state of the United States, shall require of insurance companies incorporated by this state, and having agencies in such other state, or of the agents thereof, any deposit of securities in such state, for the protection of policy holders, or otherwise, or any payment for taxes, penalties, certificates of authority, license fees, or otherwise, greater than the amounts required for such purposes from similar companies of other states by the then existing laws of this state, then, and in every such case, all companies of such states establishing, or having heretofore established, an agency or agencies in this state, shall be, and are hereby, required to make the same deposit for a like purpose with the comptroller-general of this state, and to pay to said comptroller-general for taxes, fines, penalties, certificates of authority, license fees, and otherwise, an amount equal to the amount of such charges and payments imposed by the laws of such state upon companies of this state and agents thereof.
“ Sec. 6. That all persons violating the provisions of this act shall be liable to indictment, and, on conviction, shall be fined not less than one hundred dollars, nor more than five hundred dollars, at the discretion of the jury and court trying the same.”
The act of 1869 is an act “to regulate insurance business and insurance agencies in the state of Georgia,” and prescribes the manner in which insurance companies of other states may be allowed to do business in this state, and makes the comptroller-general the agent of the state for that purpose. That act is a valid constitutional law, and has not been repealed. The word “ tax,” or “ taxes,” as used in the 5th section of it, has reference to the regulations of other states in allowing foreign companies to do business therein. Some of the states required a license tax to be paid as a con
Let the judgment of the court below be affirmed.