Any insurance company, other than a life insurance company, which receives reimbursement for the payment of an insurance premium tax levied by a county or municipality which was illegally assessed and collected shall distribute on a pro rata basis the proceeds of such reimbursement to its policyholders of record for the year the tax was levied. The distribution of the reimbursement shall be made as soon as practicable and in no event later than 90 days after such reimbursement is received by the insurance company.
(Code 1981, §33-8-8.5, enacted by Ga. L. 1984, p. 1294, § 2.)
Editor's notes.- Ga. L. 1984, p. 1294, § 4, not codified by the General Assembly, provided that § 2 of that Act, which enacted this Code section, would apply to taxes collected prior to January 1, 1984.
Law reviews.- For annual survey of state and local taxation, see 38 Mercer L. Rev. 337 (1986).
JUDICIAL DECISIONS
Cited in Federated Mut. Ins. Co. v. DeKalb County, 176 Ga. App. 70, 335 S.E.2d 873 (1985).