33-11-110. Taxation of purchasing group. 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 group must be:
(1) imposed at the same rate and subject to the same interest, fines, and penalties as those applicable to premium taxes and taxes on premiums paid to surplus lines insurers and authorized insurers, pursuant to 33-2-311 and 33-2-705, respectively; and
(2) paid by the authorized or surplus lines insurers and, if not paid by them, paid by the insurance producer for the purchasing group and, if not paid by the insurance producer, paid by the purchasing group and, if not paid by the purchasing group, paid by each of its members.
History: En. Sec. 34, Ch. 596, L. 1993.
Structure Montana Code Annotated
Title 33. Insurance and Insurance Companies
Chapter 11. Liability Risk Retention and Purchasing Groups
33-11-103. Chartering -- licensing -- plan of operation
33-11-104. Risk retention groups not chartered in this state
33-11-105. Compulsory associations
33-11-107. Purchasing groups -- exemption from certain laws relating to group purchase of insurance
33-11-108. Notice and registration requirements of purchasing groups
33-11-109. Restriction on insurance purchased by purchasing groups
33-11-110. Taxation of purchasing group
33-11-111. through 33-11-120 reserved
33-11-123. Duty of insurance producers to obtain license
33-11-124. Enforceability of orders issued in United States district court