Sec. 28. Premium taxes and taxes on premiums paid for coverage of risks resident or located in Indiana by a purchasing group or any member of a purchasing group shall be:
(1) imposed at the same rate and subject to the same interest, fines, and penalties that apply to premium taxes and taxes on premiums paid for similar coverage from a similar insurance source by other insureds; and
(2) paid first by the insurance source, and if not by the insurance source, then by the insurance producer or broker for the purchasing group, and if not by the insurance producer or broker, then by the purchasing group, and if not by the purchasing group, then by each of its members.
As added by P.L.162-1988, SEC.2. Amended by P.L.178-2003, SEC.51.
Structure Indiana Code
Article 7. Special Types of Insurance
Chapter 10. Risk Retention Groups
27-7-10-1. "Commissioner" Defined
27-7-10-2. "Completed Operations Liability" Defined
27-7-10-4. "Hazardous Financial Condition" Defined
27-7-10-5. "Insurance" Defined
27-7-10-6. "Liability" Defined
27-7-10-7. "Personal Risk Liability" Defined
27-7-10-8. "Plan of Operation or Feasibility Study" Defined
27-7-10-9. "Product Liability" Defined
27-7-10-10. "Purchasing Group" Defined
27-7-10-11. "Risk Retention Group" Defined
27-7-10-15. Premium Taxes and Taxes on Premiums; Liability; Report of Premiums; Policy Records
27-7-10-16. Foreign Risk Retention Groups; Compliance With Business Practice Provisions
27-7-10-17. Examination of Foreign Risk Retention Groups
27-7-10-18. Notice; Applications and Policies
27-7-10-20. Insurance Company Membership in Risk Retention Group
27-7-10-21. Prohibited Coverage
27-7-10-23. Insurance Insolvency Guaranty Fund
27-7-10-24. Countersignature on Policies
27-7-10-25. Purchasing Groups and Their Insurers; Application of Indiana Law; Exemptions
27-7-10-28. Premium Taxes; Taxes on Premiums; Calculations
27-7-10-29. Enforcement; Scope of Authority
27-7-10-30. Solicitation, Negotiation, or Procurement of Liability Insurance; License Requirements
27-7-10-32. Insurance Producers for Risk Retention Groups; Residence; Notice