Sec. 16. A member insurer may take as a credit against premium taxes, adjusted gross income taxes, or any combination of them imposed by the state upon the member insurer's revenue or income not more than twenty percent (20%) of the amount of each assessment described in section 6 of this chapter for each calendar year following the year in which the assessment was paid until the assessment has been offset by either credits against the taxes or refunds from the association. If the member insurer ceases doing business, all uncredited assessments may be credited against the member insurer's premium taxes, adjusted gross income taxes, or a combination of the premium taxes and adjusted gross income taxes of the member insurer for the year the member insurer ceases doing business.
As added by Acts 1978, P.L.129, SEC.3. Amended by Acts 1979, P.L.255, SEC.2; Acts 1980, P.L.173, SEC.1; P.L.163-1986, SEC.2; P.L.192-2002(ss), SEC.168; P.L.193-2006, SEC.29.
Structure Indiana Code
Article 8. Life, Accident, and Health
Chapter 8. Indiana Life and Health Insurance Guaranty Association Law
27-8-8-0.3. Coverage Obligations Affected by Statutory Amendments; Governing Law
27-8-8-2.1. Policy, Contract, Rider Descriptions; Plan Sponsor; Residency
27-8-8-2.3. Coverage Provided; Exclusions; Limitations
27-8-8-3. Creation of Association; Membership; Accounts; Supervision
27-8-8-5. Impaired Insurers; Insolvent Insurers; Liens; Association Powers and Duties
27-8-8-5.4. Association Obligations to Person Entitled to Coverage
27-8-8-5.5. Venue; Appeal Bond
27-8-8-6.2. Member Protesting Assessment
27-8-8-6.5. Association Requests for Information
27-8-8-7. Association Plan of Operation
27-8-8-8. Powers and Duties of Commissioner; Appeals to Commissioner; Notice of Effect of Chapter
27-8-8-11. Distributions to Affiliates; Recovery
27-8-8-12. Examination and Regulation of Association; Financial Report
27-8-8-13. Association Tax and Fee Exemption
27-8-8-14. Liability for Performance Under Chapter
27-8-8-15. Insolvent Insurer Proceedings; Stay; Setting Aside Judgment
27-8-8-16. Recoupment of Assessments
27-8-8-16.2. Premium Surcharge or Assignment in Lieu of Credit
27-8-8-17. Refunds From Association
27-8-8-18. Advertising Referring to Association; Association Summary Document