Home Insurance & Trust Co. v. Tennessee Ex Rel. Memphis
Home Insurance & Trust Co. v. Tennessee Ex Rel. Memphis
Opinion
after stating the case, delivered the opinion of the court.
It is quite questionable whether section 30 of the act incorporating the Memphis Life and General Insurance Company grants to that company any immunity from taxation. Without discussing or. deciding that question, however, we think that,, assuming the exemption to exist in favor of that company, it did not pass to the Home Insurance Company by virtue of the fourteenth section of the act of 1858, above quoted. We think the words contained in that section, referring to the Memphis Life and General Insurance Company, are of no broader significance than those referred to in the case of Memphis v. The Phoenix Insurance Company, just decided. Upon authority of that case, therefore, this judgment must be
Affirmed.
Reference
- Full Case Name
- Home Insurance and Trust Company v. Tennessee for the Use of Memphis
- Cited By
- 1 case
- Status
- Published
- Syllabus
- The charter of the Memphis Life and General Insurance Company contained a provision “ that there shall be a state tax of one half of one per cent upon the amount of the capital actually paid in.” The charter of'the Home Insurance and Trust Company authorized that company to “organize with all the forms, officers, terms, powers, rights, reservations, restrictions and liabilities gi'ven to and imposed upon the Memphis Life and General Insurance Company.” Held, that the Home Company wa6 not subject to the provision respecting taxation in the charter of the Memphis Life Company.