Sec. 38a-49. (Formerly Sec. 38-51). Fraternal benefit societies and foreign or alien companies to reimburse state for costs of examination.
Sec. 38a-49. (Formerly Sec. 38-51). Fraternal benefit societies and foreign or
alien companies to reimburse state for costs of examination. All fraternal benefit
societies and all foreign and alien insurance companies and other entities examined by
the Insurance Commissioner shall annually reimburse the state for the costs of such
examinations. The total cost of all examinations conducted during the fiscal year, including supervision and other overhead, shall be one hundred and thirty-five per cent of the
total salaries paid to the examining personnel of the Insurance Department engaged in
such examinations less any salary reimbursements. The commissioner shall apportion
such total cost of examinations for the fiscal year among such insurance companies and
other entities examined during such fiscal year on the basis of time involved in the
several examinations and shall assess such fraternal benefit societies, foreign and alien
insurance companies and other foreign and alien entities for their respective apportionments of the total cost. Such assessments shall be in addition to any taxes and fees
otherwise payable to the state.
(1953, S. 2808d; 1959, P.A. 687, S. 1; P.A. 75-290, S. 1; P.A. 77-614, S. 163, 587, 610; P.A. 78-303, S. 85, 136; P.A.
80-482, S. 277, 345, 348; P.A. 90-243, S. 18.)
History: 1959 act increased the cost of examinations to 135%; P.A. 75-290 deleted "domestic" where the word precedes
references to companies and entities; P.A. 77-614 and 78-303 placed insurance commissioner within the department of
business regulation and made insurance department a division within that department, effective January 1, 1979; P.A. 80-482 restored insurance commissioner and division to prior independent status and abolished the department of business
regulation; P.A. 90-243 inserted references to "foreign" and "alien" insurance companies replacing references to "nonresident" and "foreign" companies; Sec. 38-51 transferred to Sec. 38a-49 in 1991.