South Carolina Statutes
§ 38-87-100 — Premium taxes.
South Carolina·Title 38 INSURANCE·Ch. 87 REGULATION AND TAXATION OF RISK RETENTION GROUPS AND PURCHASING GROUPS
Premium taxes and other 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 are imposed and must be paid as follows:
(1)If the insurer is an admitted insurer, taxes are imposed on the insurer at the same rate and in the same manner and subject to the same procedures, interest, and penalties as that applicable to premium taxes and other taxes imposed on other admitted liability insurers relative to coverage of risks resident or located in this State.
(2)If the insurer is an approved nonadmitted surplus lines insurer, taxes are imposed on the licensed broker who effected coverage on risks resident or located in this State at the same rate and in the same manner and subject to the same procedures, intere
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South Carolina § 38-87-100 (Premium taxes.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
HISTORY: 1988 Act No. 355, SECTION 1.
Nearby Sections
13
§ 38-87-10
Purpose.§ 38-87-100
Premium taxes.§ 38-87-110
Powers of Director of the Department of Insurance; applicable procedures; injunctive relief.§ 38-87-120
License required to solicit, negotiate or procure liability insurance; notice to insured.§ 38-87-140
Rules and regulations.§ 38-87-20
Definitions.