Sec. 38a-51. (Formerly Sec. 38-53). Assessment of costs of examination and valuation. Payments credited to Insurance Fund.
Sec. 38a-51. (Formerly Sec. 38-53). Assessment of costs of examination and
valuation. Payments credited to Insurance Fund. On or before August first, annually,
the commissioner shall render to each insurance company or other entity liable to assessment under section 38a-49 or 38a-50 a statement of the total cost of examinations or
valuations, as the case may be, for the preceding fiscal year ending June thirtieth, together
with proposed assessments against each of the several such companies and other entities.
On September first annually, the commissioner, after receiving any objections to the
proposed assessments and making such changes as in his opinion may be indicated,
shall assess each such insurance company or other entity for the costs of examinations
and valuations. Each such insurance company or other entity shall pay to the commissioner the amount assessed against it within twenty days from date of invoice, with
interest at the rate of six per cent per annum if the assessment is unpaid at the end of
such twenty-day period. The commissioner shall deposit such receipts with the State
Treasurer. On and after June 6, 1991, the moneys so deposited with the State Treasurer
shall be credited to the Insurance Fund established under section 38a-52a and shall be
accounted for as expenses recovered from insurance companies.
(1953, S. 2810d; 1959, P.A. 687, S. 3; 1967, P.A. 88; P.A. 75-290, S. 3; P.A. 79-109, S. 1; June Sp. Sess. P.A. 91-14,
S. 14, 30.)
History: 1959 act increased the maximum assessment to $300,000; 1967 act deleted provision setting maximum assessments under Sec. 38-51, 38-52 and this section at $300,000 and providing for pro rata deduction in assessments which
would otherwise exceed that amount; P.A. 75-290 made provisions applicable to insurance companies and entities generally
where previously applicable to "domestic" companies and entities; P.A. 79-109 required that assessments be made on
September first rather than "during the month of September" and required payment within 20 days "from date of invoice"
rather than within 20 days "after receipt of a statement of the amount due"; Sec. 38-53 transferred to Sec. 38a-51 in 1991;
June Sp. Sess. P.A. 91-14 provided that on and after June 6, 1991, moneys deposited with treasurer shall be credited to
insurance fund, rather than general fund.