2005 Minnesota Statutes - 297I.10 — Surcharge on premiums to restore deficiency in special fund.

     297I.10 Surcharge on premiums to restore deficiency in 
  special fund. 


    Subdivision 1.    Cities of the first class.  (a) The 
 commissioner shall order and direct a surcharge to be collected 
 of two percent of the fire, lightning, and sprinkler leakage 
 gross premiums, less return premiums, on all direct business 
 received by any licensed foreign or domestic fire insurance 
 company on property in a city of the first class, or by its 
 agents for it, in cash or otherwise. 


    (b) By July 31 and December 31 of each year the 
 commissioner of finance shall pay to the relief association in 
 each city a warrant for an amount equal to the total amount of 
 the surcharge on the premiums collected within the city since 
 the previous payment. 


    (c) The treasurer of the relief association shall place the 
 money received under this subdivision in the special fund of the 
 relief association. 


    Subd. 2. Repealed, 2002 c 392 art 1 s 9 


    Subd. 3.    Appropriation.  The amount necessary to make 
 the payments required under this section is appropriated to the 
 commissioner of finance from the general fund. 


    Subd. 4.    Collection and administration.  The 
 commissioner shall administer the surcharge imposed by this 
 section in the same manner as the taxes imposed by this chapter. 


    HIST: 2000 c 394 art 1 s 3; 2005 c 151 art 2 s 16