Collection of surcharge; time for payment
Sec. 3. (a) The surcharge shall be collected on the same basis as
premiums by each insurer, risk manager, or surplus lines producer.
(b) The surcharge is due and payable within thirty (30) days after
the premium for malpractice liability insurance has been received by
the insurer, risk manager, or surplus lines producer from a health care
provider in Indiana. If a surcharge is not paid as required by this
section, the insurer, risk manager, or surplus lines producer
responsible for the delinquency is liable for the surcharge plus a
penalty equal to ten percent (10%) of the amount of the surcharge.
(c) If the annual premium surcharge is not paid within the time
limit specified in subsection (b), the certificate of authority of the
insurer, risk manager, and surplus lines producer shall be suspended
until the annual premium surcharge is paid.
As added by P.L.1-1998, SEC.13. Amended by P.L.178-2003,
SEC.96.
Last modified: May 24, 2006