Sec. 38a-743. (Formerly Sec. 38-84). Payments by licensee to commissioner. Exceptions. Penalty.
Sec. 38a-743. (Formerly Sec. 38-84). Payments by licensee to commissioner.
Exceptions. Penalty. (a) Every person, firm, association or corporation licensed pursuant to the provisions of sections 38a-741 to 38a-744, inclusive, 38a-777 and 38a-794
shall pay to the commissioner on May first of each year a sum equal to four per cent of
the gross premiums charged the insureds by the insurers during the period from January
first to March thirty-first of that year, and on August first of each year a sum equal to
four per cent of the gross premiums charged the insured by the insurers during the period
from April first to June thirtieth of that year, on November first of each year a sum equal
to four per cent of the gross premiums charged the insureds by the insurers during the
period from July first to September thirtieth of that year and on February first of each
year a sum equal to four per cent of the gross premiums charged the insureds by the
insurers during the period from October first to December thirty-first of the preceding
year, for insurance procured by such licensee pursuant to such license, less the amount
of such premiums returned to such insureds, except that the premium tax shall not apply
to any policy issued to the state of Connecticut or any agency thereof or to any policy
issued to any town, or agency of such town or special taxing district when said town,
agency or department thereof or special taxing district appears in the policy as the named
insured and as such is responsible for the payment of premiums shown on said policy.
Each licensee shall also file on May first, August first, November first, and February
first a return, in the form described by the commissioner, showing such information as
the commissioner deems necessary.
(b) Upon failure of any person to pay the premium tax due the commissioner on its
due date, there shall be added thereto a penalty and interest, which interest shall not be
less than one per cent per month or fraction of a month which elapses from the due date
of such premium tax to the date of payment, and which penalty shall be in the amount
of ten per cent of the whole or such part of the principal of the premium tax as is unpaid.
(1953, 1955, S. 2805d; P.A. 76-305; P.A. 83-367, S. 1, 2; P.A. 90-87, S. 4; P.A. 96-75, S. 1, 2; P.A. 01-113, S. 35, 42.)
History: P.A. 76-305 added exception re policies issued to state and its agencies or towns and their agencies; P.A. 83-367 required semiannual, rather than annual, payments and returns and added Subsec. (b) concerning penalties for late
payment; P.A. 90-87 amended Subsec. (a) to require quarterly, rather than semiannual, payments and returns and amended
Subsec. (b) re penalties for late payments if not made on the due date, where previously a thirty-day grace period was
allowed; Sec. 38-84 transferred to Sec. 38a-743 in 1991; P.A. 96-75 amended exception to add policies issued to special
taxing districts, effective July 1, 1996, and applicable to payments due on or after that date; P.A. 01-113 amended Subsec.
(a) to delete reference to Sec. 38a-795, effective September 1, 2002.
Annotation to former section 38-84:
Cited. 208 C. 505.