(a) A member insurer may offset against its premium tax liability to this state an assessment described in Section 27-44-9(h) to the extent of 20 percent of the amount of such assessment for each of the five calendar years following the year in which such assessment was paid.
(b) Any sums acquired by refund, pursuant to Section 27-44-9(f), from the association which have theretofore been written off by contributing insurers and offset against premium taxes as provided in subsection (a) above, and are not then needed for purposes of this chapter, shall be paid by the association to the commissioner and by him deposited with the State Treasurer for credit to the General Fund of this state.
Structure Code of Alabama
Chapter 44 - Life and Disability Insurance Guaranty Association.
Section 27-44-1 - Short Title.
Section 27-44-2 - Purpose of Chapter.
Section 27-44-3 - Scope of Chapter.
Section 27-44-4 - Construction of Chapter.
Section 27-44-5 - Definitions.
Section 27-44-6 - Creation of Association; Membership; Accounts; Supervision.
Section 27-44-8 - Powers and Duties of Association.
Section 27-44-9 - Assessments.
Section 27-44-11 - Duties and Powers of Commissioner; Appeal and Review; Notification.
Section 27-44-13 - Credits for Assessments Paid.
Section 27-44-15 - Examination and Regulation of Association; Annual Report.
Section 27-44-16 - Tax Exemptions.
Section 27-44-17 - Immunity Under Chapter.
Section 27-44-18 - Stay of Proceedings; Reopening Default Judgments.