R590-157-2. Purpose and Scope

(1) The purpose of this rule is to prescribe: (a) the amount of the stamping fee; (b) the accounting and reporting forms and procedures to be used in calculating the surplus lines premium tax and the stamping fee; and (c) the entities authorized to examine a surplus lines transaction and collect and receive the surplus lines premium tax and the stamping fee. (2) This rule applies to: (a) a surplus lines insurer, a surplus lines producer, and a policyholder required to pay a premium tax and stamping fee; (b) the advisory organization authorized to examine surplus lines transactions; and (c) the commissioner's authorized agent responsible for: (i) collecting the stamping fee and premium tax; and (ii) remitting the premium tax to the commissioner.