Premium taxes and taxes on premiums paid for coverage of risks resident or located in this state by a purchasing group or any members of the purchasing group shall be:
1. Imposed at the same rate and subject to the same interest, fines and penalties as applicable to premium taxes and taxes on premiums paid for similar coverage from a similar insurance source; and
2. Paid by the insurance source, the agent or broker for the purchasing group, the purchasing group or any members of the purchasing group.
Added by Laws 2021, c. 314, § 10, eff. Nov. 1, 2021.