Continental Assurance Co. v. Tennessee - 311 U.S. 5 (1940)
U.S. Supreme Court
Continental Assurance Co. v. Tennessee, 311 U.S. 5 (1940)
Continental Assurance Co. v. Tennessee
Decided October 21, 1940
311 U.S. 5
Where a state statute imposes upon a foreign insurance company for the privilege of entering the State and doing local business a license tax measured by a percentage of the premiums that will accrue and be paid to it on policies issued in the State, throughout the lives of such policies, the State may, consistently with due process, continue to collect such percentage on premiums which accrue from such policies after the company's withdrawal from the State, and which are paid to it at its office in another State. P. 311 U. S. 6.
176 Tenn. 1; 137 S.W.2d 277; 138 id. 447, dismissed.
APPEAL from the affirmance of a decree of the Court of Chancery of Davidson County, Tennessee, sustaining the right of the State to collect from the Assurance Company 2 1/2% of premiums paid to it by residents of Tennessee after its withdrawal from the State. The case came before this Court on the appellant's Jurisdictional Statement and the appellee's Statement in Opposition.