US SUPREME COURT DECISIONS

STATE BOARD OF INS. V. TODD SHIPYARDS CORP., 370 U. S. 451 (1962)

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U.S. Supreme Court

State Board of Ins. v. Todd Shipyards Corp., 370 U.S. 451 (1962)

State Board of Insurance v. Todd Shipyards Corp.

No. 144

Argued March 21, 1962

Decided June 25, 1962

370 U.S. 451

Syllabus

Respondent is incorporated and domiciled in New York, but it does business and owns real and personal property in Texas. It sued to recover taxes levied and collected by Texas on insurance covering its property in Texas. All transactions pertaining to such insurance took place outside of Texas. The insurers were domiciled in London, and were not licensed in Texas and did no business and had no office or agents in Texas. The insurance was bought and issued in New York, and the premiums thereon and claims thereunder were payable in New York.

Held: in the light of the history and provisions of the McCarran-Ferguson Act, 59 Stat. 33, the Texas tax on these wholly out-of-state transactions is invalid. Pp. 452-458.

349 S.W.2d 339 affirmed. chanrobles.com-red

Page 370 U. S. 452



























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