(a)The revenues of the fund shall be derived and obtained from the following sources:
(1)From the salary of each firefighter and each policeman there shall be deducted as the salary becomes payable, a sum equal to eight percent of the amount of the salary; whenever a member of the fire department or of the police department is ineligible to participate in the benefits of the fund, neither he or she nor his or her salary or other compensation shall be subject to an assessment for the benefit of the fund.
(2)Each fire insurance company doing business in the city, before the first day of March of each year, shall pay into the fund a sum equal to one and one-half percent of the gross premiums, less return premiums, received by the company for and on account of business done by it in the cit
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(a) The revenues of the fund shall be derived and obtained from the following sources:
(1)
From the salary of each firefighter and each policeman there shall be deducted as the salary becomes payable, a sum equal to eight percent of the amount of the salary; whenever a member of the fire department or of the police department is ineligible to participate in the benefits of the fund, neither he or she nor his or her salary or other compensation shall be subject to an assessment for the benefit of the fund.
(2) Each fire insurance company doing business in the city, before the first day of March of each year, shall pay into the fund a sum equal to one and one-half percent of the gross premiums, less return premiums, received by the company for and on account of business done by it in the city during the preceding calendar year. It shall be unlawful for any fire insurance company or its agent to take or receive any premium for insurance against fire within the city unless the company pays to the fund any amount herein required to be paid by it. Any fire insurance company that violates this part shall forfeit the sum of one thousand dollars ($1,000), to be recovered for the use of the fund by suit brought in the name of the city. Each person, firm or corporation conducting a fire insurance agency or brokerage business in the city shall make, and file with the city clerk within the first 10 days of each calendar year a sworn statement of the name and address of each fire insurance company which the person, firm, or corporation represented or did business for as agent or broker during the preceding year. Any person who fails or refuses to file the statement shall forfeit the sum of one hundred dollars ($100), to be recovered for the use of the fund by suit brought in the name of the city. Forfeitures and penalties, when collected, shall be a part of the fund. Any sum or sums, except forfeitures and penalties, required by this section to be paid by fire insurance companies shall be treated and held to be a part of the privilege license tax which any municipal corporation may impose upon fire or marine insurance companies under Section 11–51–120.
(3)
Each firefighter and policeman is required to pay promptly into the fund his or her witness fee in any case in which he or she may have been summoned by the city, and all money received by him or her as a donation, reward, or gratuity, including any liquor seizure fee, for unusual or special services performed in the line of duty.
(4)
There shall be paid into the fund, as and when received by the city, amounts received by it from the Alabama Alcoholic Beverage Control Board for contraband liquors and beverages confiscated and delivered to that agency.
(5)
The board may take by gift, grant, devise, or bequest, any money, personal property, or real estate, or any interest therein; and, any gift, grant, devise, or bequest may be absolute or upon condition that only the rents, income, and profits arising therefrom shall be applied to the purpose for which the fund is created.
(6)
The governing body of the city shall cause to be paid into the fund monthly, out of the city treasury, an amount equal to a total of 11.4 percent of the total salary of all firefighters and policemen. The fire insurance premiums which the city is presently paying into the fund shall be included as part of the 11.4 percent contribution by the city.
(b) Any person who is presently employed as a firefighter or policeman on May 1, 1980, who has previously served his or her employment with the fire or police department and withdrawn his or her retirement monies and entered the service as a new member of the fund who desires to reinstate his or her prior service credit may do so provided that within 90 days after May 1, 1980, he or she repays all the pension money withdrawn from the fund, with interest at the rate of six percent per annum.