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Current as of April 27, 2021 | Updated by FindLaw Staff
(1) An authorized health service corporation as defined in 33-30-101 shall file with the commissioner, on or before March 1 of each year, a report in a format prescribed by the commissioner showing the total direct premium income during the preceding calendar year from all sources after deducting from the income applicable cancellations, returned premiums, or the amount of reduction in or refund of premiums.
(2) At the time the report is filed, and subject to 33-2-709, the health service corporation shall pay a fee to the commissioner on net premium income computed at the rate of 1%.
(3) If a health service corporation fails to pay the fee required under this section, the commissioner may:
(a) suspend or revoke the certificate of authority for the health service corporation; and
(b) impose a fine of $100 plus interest on the delinquent amount at an annual interest rate of 12%.
(4) The commissioner may provide by rule a quarterly schedule for the payment of the fee.
(5) The commissioner shall deposit money collected from the fee into the Montana HELP Act special revenue account provided for in 53-6-1315.
(6) The fee required under this section applies to a formerly authorized health service corporation if the corporation received premiums during the preceding calendar year while doing business as an authorized health service corporation in this state.
Cite this article: FindLaw.com - Montana Title 33. Insurance and Insurance Companies § 33-2-714. Health service corporation fee - last updated April 27, 2021 | https://codes.findlaw.com/mt/title-33-insurance-and-insurance-companies/mt-code-ann-sect-33-2-714/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
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