(1) Each surplus line broker and every person that enters into an independent procurement
for nonadmitted insurance shall remit to the division of insurance a tax on the net
premiums, exclusive of sums collected to cover federal and other state taxes and examination
fees, on nonadmitted insurance subject to tax under this article during the preceding
reporting period as shown by the statement filed with the commissioner. The net premiums must be taxed at the rates described in section 10-5-111.5.
(2) If a surplus line policy or independently procured policy covers an insured whose
home state is Colorado, and that policy covers risks or exposures located outside
of Colorado, the tax payable is computed using the allocation method contained in
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