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IN THE COURT OF APPEALS OF THE STATE OF MISSISSIPPI NO. 96-CA-00640 COA LAMAR LIFE INSURANCE COMPANY v. ED BUELOW JR., COMMISSIONER, MISSISSIPPI STATE TAX COMMISSION APPELLANT APPELLEE

THIS OPINION IS NOT DESIGNATED FOR PUBLICATION AND MAY NOT BE CITED, PURSUANT TO M.R.A.P. 35-B DATE OF JUDGMENT: TRIAL JUDGE: COURT FROM WHICH APPEALED: ATTORNEY FOR APPELLANT: ATTORNEYS FOR APPELLEE: NATURE OF THE CASE: TRIAL COURT DISPOSITION: 06/11/96 HON. DENISE OWENS HINDS COUNTY CHANCERY COURT HARRIS H. BARNES GARY WOOD STRINGER BOBBY R. LONG CIVIL - INSURANCE AFFIRMED THE ASSESSMENT OF INSURANCE PREMIUM TAXES AND INTEREST AGAINST LAMAR LIFE AFFIRMED - 11/18/97 12/3/97 2/11/98 4/30/98

DISPOSITION: MOTION FOR REHEARING FILED: CERTIORARI FILED: MANDATE ISSUED:

BEFORE McMILLIN, P.J., COLEMAN, AND HINKEBEIN, JJ. HINKEBEIN, J., FOR THE COURT: This case involves an appeal by Lamar Life Insurance Company [hereinafter Lamar Life] from a decision of the Chancery Court of Hinds County upholding the Mississippi Tax Commission's [hereinafter Tax Commission] finding that Lamar Life was liable to the State of Mississippi for $483, 080 in insurance premium taxes. Aggrieved by the holding of the chancery court, Lamar Life appeals with the following assignments of error: I. WHETHER THE CHANCELLOR ERRED IN FAILING TO CONSIDER THE LAW

AND FACTS DE NOVO OF LAMAR LIFE'S APPEAL FROM THE STATE TAX COMMISSION BY GIVING TOTAL DEFERENCE TO THE STATE TAX COMMISSION'S DECISION? II. WHETHER THE CHANCELLOR ERRED IN FINDING THAT THE PREMIUM TAX, IF ANY, WAS DUE AT SUCH TIME AS THE FUNDS WERE DEPOSITED WITH LAMAR LIFE INSURANCE COMPANY EVEN THOUGH LAMAR LIFE BORE NO RISK BASED ON A LIFE EXPECTANCY WITH RESPECT TO THE DEPOSITS? III. WHETHER THE CHANCELLOR ERRED IN FAILING TO CONSIDER ALL REPERCUSSIONS AND CONSEQUENCES IN CONSTRUING MISS. CODE ANN.

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Mississippi Law