SEC. 83-41-127. Exemption from tax.

Every corporation organized pursuant to, or subject to, the provisions of this article is hereby declared to be a charitable and benevolent institution, and its funds and property shall be exempt from taxation, except, however, that such a corporation shall not be exempt from the annual license and privilege tax upon premiums collected by it or from ad valorem taxes upon real estate and motor vehicles owned by it.

SOURCES: Codes, 1942, Sec. 5615-14; Laws, 1948, ch. 349, Sec. 14; 1956, ch. 341; 1978, ch. 441, Sec. 8, eff from and after July 1, 1978.

1997 Amendment

SECTION 2. Sections 83-41-101, 83-41-103, 83-41-105, 83-41-107, 83-41-109, 83-41-111, 83-41-113, 83-41-115, 83-41-117, 83-41-119, 83-41-121, 83-41-123, 83-41-125, 83-41-127, 83-41-129 and 83-41-131, Mississippi Code of 1972, which provide for the organization and regulation of nonprofit hospital, medical and surgical service corporations by the Commissioner of Insurance, are repealed.

SOURCE: 1997 Laws, Chapter 307, Sec. 2, SB2066, Effective July 1, 1997.