§ 27-46-10. Purchasing group taxation.
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 groups shall be:
(1) Imposed at the same rate and subject to the same interest, fines, and penalties as that applicable to premium taxes and taxes on premiums paid for similar coverage from a similar insurance source by other insured; and
(2) Paid first by the insurance source, and if not by the source by the agent or broker or producer for the purchasing group, and if not by the agent or broker or producer then by the purchasing group, and if not by the purchasing group then by each of its members.
History of Section.P.L. 1991, ch. 348, § 1.
Structure Rhode Island General Laws
Chapter 27-46 - Risk Retention Act
Section 27-46-2. - Definitions.
Section 27-46-3. - Risk retention groups chartered in this state.
Section 27-46-4. - Risk retention groups not chartered in this state.
Section 27-46-5. - Compulsory associations.
Section 27-46-6. - Countersignatures not required.
Section 27-46-7. - Purchasing groups — Exemption from certain laws.
Section 27-46-8. - Notice and registration requirements of purchasing groups.
Section 27-46-9. - Restrictions on insurance purchased by purchasing groups.
Section 27-46-10. - Purchasing group taxation.
Section 27-46-12. - Duty of agents or brokers or insurance producers to obtain license.
Section 27-46-13. - Binding effect of orders issued in U.S. district court.