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unauthorized insurer without the services of an
intermediary insurance producer; and
(iii) that is an exempt commercial purchaser whose home
state is Illinois.
"Insurance producer" means insurance producer as the term
is defined in Section 500-10 of this Code.
"Qualified risk manager" means qualified risk manager as
the term is defined in subsection (1) of Section 445 of this
"Safety-Net Hospital" means an Illinois hospital that
qualifies as a Safety-Net Hospital under Section 5-5e.1 of the
Illinois Public Aid Code.
"Unauthorized insurer" means unauthorized insurer as the
term is defined in subsection (1) of Section 445 of this Code.
(b) For contracts of insurance effective January 1, 2015 or
later, within 90 days after the effective date of each contract
of insurance issued under this Section, the insured shall file
a report with the Director by submitting the report to the
Surplus Line Association of Illinois in writing or in a
computer readable format and provide information as designated
by the Surplus Line Association of Illinois. The information in
the report shall be substantially similar to that required for
surplus line submissions as described in subsection (5) of
Section 445 of this Code. Where applicable, the report shall
satisfy, with respect to the subject insurance, the reporting
requirement of Section 12 of the Fire Investigation Act.
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(c) For contracts of insurance effective January 1, 2015 or
later, within 30 days after filing the report, the insured
shall pay to the Director for the use and benefit of the State
a sum equal to the gross premium of the contract of insurance
multiplied by the surplus line tax rate, as described in
paragraph (3) of subsection (a) of Section 445 of this Code,
and shall pay the fire marshal tax that would otherwise be due
annually in March for insurance subject to tax under Section 12
of the Fire Investigation Act. For contracts of insurance
effective January 1, 2015 or later, within 30 days after filing
the report, the insured shall pay to the Surplus Line
Association of Illinois a countersigning fee that shall be
assessed at the same rate charged to members pursuant to
subsection (4) of Section 445.1 of this Code.
(d) For contracts of insurance effective January 1, 2015 or
later, the insured shall withhold the amount of the taxes and
countersignature fee from the amount of premium charged by and
otherwise payable to the insurer for the insurance. If the
insured fails to withhold the tax and countersignature fee from
the premium, then the insured shall be liable for the amounts
thereof and shall pay the amounts as prescribed in subsection
(c) of this Section.
(e) Contracts of insurance with an industrial insured that
qualifies as a Safety-Net Hospital are not subject to
subsections (b) through (d) of this Section.
(Source: P.A. 98-978, eff. 1-1-15