§ 507a-9

507A.9 Premium tax on unauthorized insurers. 1. For all premiums collected during the calendar year, except premiums on lawfully procured surplus lines insurance, every unauthorized insurer shall pay to the commissionerof insurance before March 1, next succeeding the calendar year in which the insurancewas so effectuated, continued, or renewed a premium tax on gross premiums charged forsuch insurance on subjects resident, located, or to be performed in this state equal to theapplicable percent, as provided in section 432.1. Such insurance whether procured throughnegotiation or an application, in whole or in part occurring or made within or outside ofthis state, or for which premiums in whole or in part are remitted directly or indirectly fromwithin or outside of this state, shall be deemed to be insurance procured or continued inthis state. The term 'premium' includes all premiums, membership fees, assessments, dues,and any other consideration for insurance. If the tax prescribed by this section is not paidwithin the time stated, the tax shall be increased by a penalty of twenty-five percent and bythe amount of an additional penalty computed at the rate of one percent per month or

is section is not paidwithin the time stated, the tax shall be increased by a penalty of twenty-five percent and bythe amount of an additional penalty computed at the rate of one percent per month or anypart thereof from the date such payment was due to the date paid. 2. If the policy covers risks or exposures only partly in the state, the tax payable shall be computed on the portions of the premium which are properly allocable to the risks orexposures located in the state. In determining the amount of premiums taxable in thisstate, all premiums written, procured, or received in this state and all premiums on policiesnegotiated in this state shall be deemed written on property or risks located or resident inthis state, except such premiums as are properly allocated or apportioned and reported astaxable premiums of any other state or states. 3. The attorney general, upon request of the commissioner of insurance, shall proceed in the courts of this state or any other state or in any federal court or agency to recover such taxnot paid within the time prescribed in this section. [C71, 73, 75, 77, 79, 81, §507A.9]2006 Acts, ch 1117, §22Referred to in §515I.10, 515I.11 Sat Dec 23

ny federal court or agency to recover such taxnot paid within the time prescribed in this section. [C71, 73, 75, 77, 79, 81, §507A.9]2006 Acts, ch 1117, §22Referred to in §515I.10, 515I.11 Sat Dec 23 00:39:14 2023 Iowa Code 2024, Section 507A.9 (16, 0)