Oregon Code § 735.470·Enacted ·Last updated March 01, 2026
Statute Text
Premium tax; collection; payment; refund; rules.
(1)(a) The surplus lines licensee
shall pay the Director of the Department of Consumer and Business Services a
surplus lines premium tax equal to two percent of the gross amount of premiums
received on Oregon home state risks as shown in the report required by ORS
735.465.
(b)
Notwithstanding ORS 731.820, the surplus lines licensee shall also pay to the
director a tax equal to 0.3 percent of the premium or fees charged by the
insurer or the insurers insurance producer and other intermediaries for the
insurance, for the purpose of maintaining the Department of the State Fire
Marshal and paying the expenses incident thereto.
(c) The taxes
shall be collected by the surplus lines licensee as specified by the director,
in addition to the gross amount of premiums charged by the insurer or the
insurers insurance producer and other intermediaries for the insurance. The
taxes on any portion of the premium unearned at termination of insurance having
been credited by the state to the licensee shall be returned to the
policyholder directly by the surplus lines licensee or through the producing
insurance producer, if any. The surplus lines licensee is prohibited from
absorbing the taxes, and from rebating for any reason, any part of the taxes.
(2) The surplus
lines taxes are due quarterly on the 45th day following the calendar quarter in
which the premium is collected. The taxes shall be paid to and reported on
forms prescribed by the director or upon the directors order paid to and
reported on forms prescribed by the Surplus Line Association of Oregon.
(3)
Notwithstanding subsection (2) of this section, if a surplus lines license is
terminated or nonrenewed for any reason, the taxes described in this section
are due on the 30th day after the termination or nonrenewal.
(4) For the
purposes of carrying out the Nonadmitted and Reinsurance Reform Act of 2010
(P.L. 111-203, Title V, Subtitle B), the director may collect taxes on 100
percent of the gross amount of premiums on Oregon home state risks. If the
director enters into a compact or otherwise establishes procedures with other
states pursuant to ORS 735.418, the director by rule shall establish procedures
to facilitate the reporting, collection, payment, allocation and disbursement
of premium taxes on Oregon home state risks that also include risks allocable
to other states.
(5) As used in
this section, gross amount of premiums has the meaning given that term in ORS
731.808. [1987 c.774 §131; 1989 c.288 §2; 1995 c.786 §10; 2001 c.191 §48a; 2003
c.364 §44; 2007 c.71 §237; 2011 c.660 §8; 2021 c.539 §145]