24-A §2113. Report and tax of independently procured coverages.
Title 24-A: MAINE INSURANCE CODE
Chapter 21: UNAUTHORIZED INSURERS -- PROHIBITIONS, PROCESS AND ADVERTISING
§2113. Report and tax of independently procured coverages.
1. Every insured who in this State procures or causes to be procured or continues or renews insurance in an unauthorized foreign insurer, or any self-insurer who in this State so procures or continues excess loss, catastrophe or other insurance, upon a subject of insurance resident, located or to be performed within this State, other than insurance procured through a surplus line broker pursuant to the Surplus Line Law of this State or exempted from tax pursuant to section 2002-A, shall within 30 days after the date such insurance was so procured, continued or renewed file a written report of the same with the superintendent on forms designated by the superintendent and furnished to the insured upon request. The report shall show the name and address of the insured or insureds, name and address of the insurer, the subject of the insurance, a general description of the coverage, the amount of premium currently charged therefor, and such additional pertinent information as the superintendent reasonably requests. If the insurance covers also a subject of insurance resident, located or to be performed outside this State a proper pro rata portion of the entire premium payable for all such insurance must be allocated to this State for the purposes of this section.
[ RR 2001, c. 2, Pt. A, §39 (COR) .]
2. Any insurance in an unauthorized insurer procured through negotiations or an application in whole or in part occurring or made within or from within this State, or for which premiums in whole or in part are remitted directly or indirectly from within this State, shall be deemed to be insurance procured or continued or renewed in this State within the intent of subsection 1 above.
[ 1969, c. 132, §1 (NEW) .]
3. For the general support of the government of this State there is levied upon the insured with respect to the obligation, chose in action, or right represented by such insurance, a tax at the rate of 3% of the gross amount of the premium charged for the insurance. Within 30 days after the insurance was so procured, continued or renewed, and coincidentally with the filing with the superintendent of the report provided for in subsection 1, the insured shall pay the amount of the tax to the superintendent.
[ 1973, c. 585, §12 (AMD) .]
4. The tax imposed hereunder if delinquent shall bear interest at the rate of 6% per annum, compounded annually.
[ 1969, c. 132, §1 (NEW) .]
5. The tax shall be collectible from the insured by civil action brought by the superintendent, or by distraint.
[ 1973, c. 585, §12 (AMD) .]
6. The superintendent shall promptly deposit all taxes and interest collected under this section with the Treasurer of State to the credit of the General Fund.
[ 1973, c. 585, §12 (AMD) .]
7. This section does not abrogate or modify any provision of section 2101 (representing or aiding unauthorized insurer prohibited); and an insurer issuing such insurance pursuant to the unsolicited application of the insured shall not thereby be deemed to be in violation of this code, provided the tax is paid under this section.
[ 1969, c. 177, §33 (AMD) .]
8. This section does not apply as to life or health insurances.
[ 1969, c. 177, §33 (AMD) .]
SECTION HISTORY
1969, c. 132, §1 (NEW). 1969, c. 177, §33 (AMD). 1973, c. 585, §12 (AMD). RR 2001, c. 2, §A39 (COR).