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 groups shall be both:
(1) Imposed at the same rate and subject to the same interest, fines, and penalties as that applicable to premium taxes and taxes on premiums paid for similar coverage from a similar insurance source by other insureds.
(2) Paid first by the insurance source, and if not by that source, by the agent or broker for the purchasing group, and if not by the agent or broker then by the purchasing group, and if not by the purchasing group then by each of its members.
Structure Code of Alabama
Chapter 31A - Risk Retention Act.
Section 27-31A-1 - Short Title and Purpose.
Section 27-31A-2 - Definitions.
Section 27-31A-3 - Risk Retention Groups Chartered in This State.
Section 27-31A-3.1 - Risk Retention Groups to Comply With Governance Standards.
Section 27-31A-4 - Risk Retention Groups Not Chartered in This State.
Section 27-31A-5 - Compulsory Associations.
Section 27-31A-6 - Countersignatures Not Required.
Section 27-31A-7 - Purchasing Groups - Exemption From Certain Laws.
Section 27-31A-8 - Notice and Registration Requirements of Purchasing Groups.
Section 27-31A-9 - Restrictions on Insurance Purchased by Purchasing Groups.
Section 27-31A-10 - Purchasing Group Taxation.
Section 27-31A-12 - Duty of Producers to Obtain License.
Section 27-31A-13 - Binding Effect of Orders Issued in u.s. District Court.