§ 20-416 – Tax on surplus lines
20-416. Tax on surplus lines A. On or before the due date prescribed in section 20-415, each surplus lines broker shall remit to the state treasurer through the director a tax on the premiums, exclusive of sums collected to cover federal and state taxes, examination fees and stamping fees collected pursuant to section 20-167, on […]
§ 20-416.01 – Collection and payment of tax on surplus lines; multistate agreement
20-416.01. Collection and payment of tax on surplus lines; multistate agreement A. In accordance with the nonadmitted and reinsurance reform act of 2010, the director may enter into a compact or multistate agreement to provide for the reporting, payment, collection and allocation of taxes imposed pursuant to sections 20-401.07 and 20-416 on surplus lines insurance […]
§ 20-417 – Failure to remit tax; civil penalty; exception
20-417. Failure to remit tax; civil penalty; exception A. If any surplus lines broker fails to remit the surplus lines tax provided for by section 20-416, the broker is liable for a civil penalty of not more than $25 for each additional day of delinquency. The director may collect the tax by distraint and may […]
§ 20-418 – Denial, revocation or suspension of license; civil penalty
20-418. Denial, revocation or suspension of license; civil penalty A. The director may deny or suspend for not more than twelve months, revoke or refuse to renew any surplus lines broker’s license and, in addition or in lieu thereof, may levy a civil penalty and order restitution to any injured party: 1. If the broker […]
§ 20-419 – Legal process against surplus lines insurer
20-419. Legal process against surplus lines insurer A. Every unauthorized nonresident insurer issuing or delivering a surplus lines policy through a surplus lines broker in this state is conclusively deemed to have irrevocably appointed the director as its agent for acceptance of service of all legal process issued in this state in any action or […]
§ 20-420 – Exemptions from surplus lines provisions
20-420. Exemptions from surplus lines provisions A. The sections of this article relating to surplus lines coverages do not apply to reinsurance or to the following classes of insurance placed by licensed insurance producers of this state: 1. Ocean marine and foreign trade insurance. 2. Insurance on subjects that are located, resident or to be […]
§ 20-421 – Access of director to records of person insured by unauthorized insurer
20-421. Access of director to records of person insured by unauthorized insurer Upon the director’s request any person in this state who is the insured under any policy issued by an unauthorized insurer upon a subject of insurance resident, located or to be performed in this state at the time the policy was issued, shall […]
§ 20-422 – Alien insurance for coverage in Mexico
20-422. Alien insurance for coverage in Mexico A. A person shall not solicit or accept applications in this state for insurance or collect a commission on a policy that is to be effective in Mexico and only outside the geographical limits of this state and that is to be issued by an alien insurer or […]
§ 20-423 – Voluntary domestic organization of surplus lines brokers; membership; stamping fee collection; meetings; definition
20-423. Voluntary domestic organization of surplus lines brokers; membership; stamping fee collection; meetings; definition A. A voluntary domestic organization of surplus lines brokers that contracts with the director pursuant to section 20-167, subsection E shall be incorporated in this state as a nonprofit corporation. A surplus lines broker who is licensed and in good standing […]
§ 20-401.05 – Certificate of exemption; definitions
20-401.05. Certificate of exemption; definitions A. On July 1 of each year, the director shall grant a certificate of exemption to any insurer, employee benefit trust or voluntary employees’ beneficiary association transacting life insurance, disability insurance or annuity business, or providing other health or welfare benefits, under the laws of its domicile that: 1. Is […]