Delaware Code Title 18 Sec. 4413 – Credits for assessments paid
(a) A member insurer may offset against its premium tax liability to this State an assessment described in § 4409(h) of this title to the extent of 20 percent of the amount of such assessment for each of the 5 calendar years following the year in which such assessment was paid. If a member insurer should cease doing business, all uncredited assessments may be credited against its premium tax liability for the year it ceases doing business.
Terms Used In Delaware Code Title 18 Sec. 4413
- Association: means the Delaware Life and Health Insurance Guaranty Association created under § 4406 of this title. See Delaware Code Title 18 Sec. 4405
- Commissioner: means the Commissioner of Insurance of this State. See Delaware Code Title 18 Sec. 4405
- Member insurer: means an insurer, managed care organization, or health maintenance organization licensed or that holds a certificate of authority to transact in this State any kind of insurance, managed care organization, or health maintenance organization business for which coverage is provided under § 4403 of this title, and includes an insurer, managed care organization, or health maintenance organization whose license or certificate of authority in this State may have been suspended, revoked, not renewed or voluntarily withdrawn, but does not include:
- State: means a state, the District of Columbia, Puerto Rico, or a United States possession, territory or protectorate. See Delaware Code Title 18 Sec. 4405
- Year: means a calendar year, and is equivalent to the words "year of our Lord. See Delaware Code Title 1 Sec. 302
(b) Any sums acquired by refund, under § 4409(f) of this title, from the Association which have theretofore been written off by contributing insurers and offset against premium, franchise, or income taxes as provided in subsection (a) of this section and are not then needed for purposes of this chapter, shall be paid by the Association to the Commissioner and deposited by the Commissioner with the State Treasurer for credit to the General Fund of this State.
63 Del. Laws, c. 442, § ?1; 70 Del. Laws, c. 186, § ?1; 82 Del. Laws, c. 113, § 8;