NORTH CAROLINA GENERAL ASSEMBLY

1963 SESSION

 

 

CHAPTER 1096

HOUSE BILL 1059

 

 

AN ACT TO AMEND G.S. 105-228.5, RELATING TO THE TAX RATE OF DOMESTIC SELF-INSURERS UNDER THE WORKMEN'S COMPENSATION ACT.

 

The General Assembly of North Carolina do enact:

 

Section 1.  The sixth paragraph of G.S. 105-228.5, as the same appears in the 1961 Cumulative Supplement to Replacement Volume 2C of the General Statutes, is rewritten to read as follows:

"The amounts collected on contracts applicable to liabilities under the Workmen's Compensation Act, a tax at the rate of one and six-tenths per cent (1.6%) in the case of domestic insurance companies and domestic self-insurers or self-insurers domesticated and doing business in North Carolina; and on the amounts collected on contracts applicable to liabilities under the Workmen's Compensation Act in the case of foreign and alien insurance companies, or the equivalent thereof in the case of foreign and alien self‑insurers, except those which have been domesticated and are doing business in North Carolina, a tax at the rate of four per cent (4%)."

Sec. 2.  All laws and clauses of laws in conflict with this Act are hereby repealed.

Sec. 3.  This Act shall be in full force and effect from and after its ratification.

In the General Assembly read three times and ratified, this the 21st day of June, 1963.