Sec. B-1. 24-A MRSA §228, sub-§2, as amended by PL 1973, c. 585, §12, is further amended to read:
2. Such person examined shall promptly pay to the superintendent the expenses of the examination upon presentation by him the superintendent of a reasonably detailed written statement thereof. Any insurer with total admitted assets as of the end of the preceding calendar year of $50,000,000 or greater must comply with this section in satisfaction of the examination assessment.
Sec. B-2. 24-A MRSA §228, sub-§3, as amended by PL 1975, c. 467, is further amended to read:
3. Except that in lieu of payment of examination expense as above required, a domestic insurer shall have with total admitted assets of less than $50,000,000 has the right, at its option, of making an annual payment to the superintendent of an examination expense allotment in an amount equal to .001 of its total admitted assets as of the end of the preceding calendar year, and which payment shall must be made on March 1st with the filing of the insurer's annual statement with the superintendent; or, if the insurer's admitted assets exceed $10,000,000, but do not exceed $50,000,000, the insurer shall have has the right, at its further option, to pay to the superintendent with respect to any examination the lesser of:
A. The expense of the examination as determined pursuant to subsections 1 and 2 above; or
B. An annual amount equal to .001 of the first $10,000,000 of the insurer's admitted assets plus .0002 of the remainder of such assets, limited, however, to insurers whose admitted assets do not exceed $25,000,000 as such assets are shown by the insurer's financial statement filed with the superintendent for the year-end next preceding the commencement of the examination, such payment to be made on March 1st with the filing of the insurer's annual statement with the superintendent; or
C. If the admitted assets of the insurer exceed $25,000,000, but do not exceed $50,000,000, an annual payment of an examination expense allotment of 1/5 of an amount equal to .001 of the first $10,000,000 of the insurer's admitted assets, plus .0002 of the next $15,000,000 of such assets, plus .000175 of the remainder of such assets as are shown by the insurer's financial statement filed with the superintendent for the preceding calendar year. Such The payment shall must be made on March 1st with the filing of the insurer's annual statement with the superintendent.
Sec. B-3. 24-A MRSA §2016, sub-§1, as amended by PL 1997, c. 592, §62, is further amended to read:
1. Each producer with surplus lines authority shall maintain in the producer's office within the State a monthly report showing the amount of insurance placed for any person or organization, the location of each risk, the gross premium charged, the name of each insurer with which the insurance was placed, the date and term of each insurance contract issued during the preceding month and any other pertinent information required by the superintendent. The report must show in the same detail each contract cancelled during the month covered by the report and the return premium on it. The monthly report must be made available to the superintendent for examination at the producer's office location in the State at any time or by delivery to the bureau upon 5 days' notice by the superintendent.
Within 45 days of the end of each calendar quarter, the producer shall pay to the Treasurer of State 3% of the difference between the gross premiums and the return premiums reported for the business transacted during the preceding calendar quarter.
Sec. B-4. 36 MRSA §2513, first ¶, as amended by PL 1985, c. 783, §11, is further amended to read:
Every insurance company or association which that does business or collects premiums or assessments including annuity considerations in the State, except those mentioned in section 2517, including surety companies and companies engaged in the business of credit insurance or title insurance, shall, for the privilege of doing business in this State, and in addition to any other taxes imposed for such privilege pay a tax upon all gross direct premiums including annuity considerations, whether in cash or otherwise, on contracts written on risks located or resident in the State for insurance of life, annuity, fire, casualty and other risks at the rate of 2% a year. Every surplus lines insurer that does business or collects premiums in the State shall, for the privilege of doing business in this State, and in addition to any other taxes imposed for such privilege, pay a tax upon all gross direct premiums, whether in cash or otherwise, on contracts written on risks located or resident in the State at the rate of 3% a year. The tax must be paid by the insurer's licensed producer with surplus lines authority pursuant to Title 24-A, section 2016.
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