American Fire Insurance v. First National Bank

Citations

• 73 Miss. 469

Syllabus

<p>1. Fiee Insurance. Privilege tax law. PoUey a contract witMn same. Code 1893, H 3390, 3401.</p> <p>A policy of insurance upon the stock of goods of a merchant is a contract in reference to his business, within the meaning of § 3401, code 1893, which avoids all contracts made with those who fail to comply with the privilege tax law in reference to the business carried on in disregard thereof. Pollard v. Insurance Co., 63 Miss., 344; Insurance Co. v. Searles, ante, cited.</p> <p>3. Sasie. Insufficient jprimilege tax. Code 1893, $$ 3390, 3401.</p> <p>When a merchant’s stock of goods varies during the year from $3,000 or $3,500 to $7,500 in amount, and he pays a privilege tax of $15 only, and procures the license required by § 3390, code 1893, where the stock sometimes exceeds $3,000, but never $3,500, instead of paying $30, and procuring the license required by said statute where the stock sometimes exceeds $7,000, but never $10,000, in amount, he is guilty of a violation of said statute, and a fire insurance policy on the stock taken o.ut while he continues to do business under such insufficient license is void under ?¿ 3401, code 1893.</p> <p>3. Same. Payment of tax during month. Ucease antedated. BetroacM/ve effect on contracts. Code 1892, $ 3408.</p> <p>Under l 3408. code 1892, requiring the tax collector, where a privilege tax is paid during any month, but after the first day thereof, to date the license as of that day, and providing that it “shallbe good for one year from that date, ” a payment at any time during the month has a retroactive effect, and a contract made in reference to the business of the taxpayer during the month of the issuance of the license, is valid, though the tax is not in fact paid until after the contract is made.</p> <p>4. Form Attached to Policy. Immaterial change of same. No new contract created.</p> <p>Where a fire insurance company, after issuing a policy, procures the same from the insured, and changes the following form attached