Montana § 33-11-110 Taxation Of Purchasing Group

Montana Statutes

§ 33-11-110 — Taxation Of Purchasing Group

Montana·Title 33 INSURANCE AND INSURANCE COMPANIES·Ch. 11 LIABILITY RISK RETENTION AND PURCHASING GROUPS·Part 1 General Provisions

33-11-110 . Taxation of purchasing group. Premium taxes and taxes on premiums paid for coverage of risks resident or located in this state by a purchasing group or any members of the purchasing group must be:

(1)imposed at the same rate and subject to the same interest, fines, and penalties as those applicable to premium taxes and taxes on premiums paid to surplus lines insurers and authorized insurers, pursuant to 33-2-311 and 33-2-705 , respectively; and

(2)paid by the authorized or surplus lines insurers and, if not paid by them, paid by the insurance producer for the purchasing group and, if not paid by the insurance producer, paid by the purchasing group and, if not paid by the purchasing group, paid by each of its members.

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33-11-110 . Taxation of purchasing group. Premium taxes and taxes on premiums paid for coverage of risks resident or located in this state by a purchasing group or any members of the purchasing group must be:
(1) imposed at the same rate and subject to the same interest, fines, and penalties as those applicable to premium taxes and taxes on premiums paid to surplus lines insurers and authorized insurers, pursuant to 33-2-311 and 33-2-705 , respectively; and
(2) paid by the authorized or surplus lines insurers and, if not paid by them, paid by the insurance producer for the purchasing group and, if not paid by the insurance producer, paid by the purchasing group and, if not paid by the purchasing group, paid by each of its members.

Montana § 33-11-110 (Taxation Of Purchasing Group) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.