NU Online News Service, March 22, 3:07 p.m. EDT
Kentucky, New Mexico and Ohio have become the first states to enact comprehensive legislation implementing the surplus lines and reinsurance reform and modernization law.
Under the federal modernization law, the Nonadmitted and Reinsurance Reform Act, surplus lines taxes are paid to the insurer's home state. Distribution of those taxes is then up to the individual states to share proportionally.
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