12-2624.   Gross premium tax, rate, payment; deductions forcancellations and dividends.In addition to the fees required to be paid in K.S.A.12-2622 and amendments thereto,and as a condition precedent to the continuation of the certificate ofauthorityprovided in this act, all group-funded pools shallpayno later than 90 days after the end of each fiscal yeara tax upon the annual Kansas grosspremium collected by the pool at the rate of 1% per annum applied to thecollective premium relating to all Kansas members of the poolfor the preceding fiscal year. In the computation of the tax, all poolsshall be entitledto deduct any annual Kansas gross premiums returned on account of cancellationor dividends returned to members of such pools or expenditures used forthe purchase of specific and aggregate excess insurance, as provided insubsection (h) of K.S.A. 12-2618 and amendmentsthereto.

      History:   L. 1987, ch. 74, § 9;L. 1991, ch. 60, § 3; May 23.