Tennessee Code 56-12-119 – Credit for guaranty fund assessments
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Terms Used In Tennessee Code 56-12-119
- Association: means the Tennessee insurance guaranty association created under §. See Tennessee Code 56-12-104
- Year: means a calendar year, unless otherwise expressed. See Tennessee Code 1-3-105
Assessments made by the Tennessee insurance guaranty association as provided in § 56-12-107(a)(3) shall be allowed as a credit against premium taxes imposed on member insurers up to twenty-five percent (25%) of the net premium taxes due in any one (1) calendar year, until the aggregate of all assessments paid to the association have been offset by such premium tax credits.