2009 Alabama Code
Title 27 — INSURANCE.
Chapter 21 — ALABAMA HEALTH CARE PLAN.
Section 27-21-4 Exemption from premium tax; deduction of losses therefrom.
Section 27-21-4Exemption from premium tax; deduction of losses therefrom.
The premiums collected under the provisions of the health care plan are hereby exempt from the payment of premium tax under Chapter 4 of this title. Any losses suffered as a direct result of operation under the plan by those organizations electing to join and operate under the health care plan may be deducted from the premium tax submitted under the above-mentioned Chapter 4 which would normally be paid on individual accident and health insurance premiums collected, but total loss deduction shall not exceed 50 percent of such premium tax normally payable on premiums from individual accident and health insurance.
(Acts 1971, No. 501, p. 1218.)Disclaimer: These codes may not be the most recent version. Alabama may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
