§431K-7.5  Purchasing group taxation. Premium taxes and taxes on premiums paid for coverage of risks resident orlocated in this State by a purchasing group or any members of thepurchasing group shall be:

(1)  Imposed at the same rate and subject to the sameinterest, fines, and penalties as that applicable to premium taxes and taxes onpremiums paid for similar coverage from a similar insurance source by otherinsurers; and

(2)  Paid first by that insurance source, and if notby that source, then by the producer for the purchasing group, and if not bythat producer, then by the purchasing group, and if not by that purchasinggroup, then by each of its members. [L 1993, c 321, §4; am L 2002, c 155, §99]