§ 34-18-5-3 — Collection of surcharge; time for payment

(a) The surcharge shall be collected on the
same basis as premiums by each insurer, risk manager, or surplus lines
producer.
(b) The surcharge is due and payable within thirty (30) days after
the premium for malpractice liability insurance has been received by
the insurer, risk manager, or surplus lines producer from a health care
provider in Indiana. If a surcharge is not paid as required by this
section, the insurer, risk manager, or surplus lines producer responsible
for the delinquency is liable for the surcharge plus a penalty equal to
ten percent (10%) of the amount of the surcharge.
(c) If the annual premium surcharge is not paid within the time limit
specified in subsection (b), the certificate of authority of the insurer,
risk manager, and surplus lines producer shall be suspended until the
annual premium surcharge is paid.
[Pre-1998 Recodification Citation: 27-12-5-3.]

Legislative History

As added by P.L.1-1998, SEC.13. Amended by P.L.178-2003, SEC.96.