Iowa Mutual Tornado Insurance v. Fischer

— The question for decision is whether sections 518.35 and 432.1(2), Code, 1950, compel plaintiff, a mutual insurance assessment association organized under Code chapter 518, to pay a two per cent premium tax upon post-loss assessments against policyholders which are not collected. The trial court held plaintiff is not liable for a premium tax upon such uncollected assessments. We affirm the decision.

The case comes here upon the' allegations of plaintiff’s petition which are admitted by defendants’ motion to dismiss. When plaintiff issues a policy against loss by windstorm and tornado the…