ยง 1551. Imposition of tax. There is hereby imposed on any person whose
home state is New York and who purchases or renews a taxable insurance
contract from an insurer not authorized to transact business in this
state under a certificate of authority from the superintendent of
financial services a tax at the rate of three and six-tenths percent of
the premiums paid or to be paid, less returns thereon, for such
insurance. Nothing in this article modifies or abrogates any provision
of the insurance law.