(1) Pursuant to 33-2-321, MCA, the department shall collect a stamping fee on the base premium, including any monied endorsement, payable for each surplus lines insurance policy transacted in the state.
(2) The stamping fee is equal to:
(a) one percent of the base premium for paper (hard copy) submissions; and
(b) one-half percent of the base premium for electronically filed submissions via the surplus lines business portal via the department's web site.
(3) Effective January 1, 2012, the stamping fee is equal to:
(a) one-quarter percent of the base premium for paper (hard copy) submissions; and
(b) no charge for electronically filed submissions via the surplus lines business portal via the department's web site.
(4) The stamping fee on the underlying surplus lines insurance policy shall be earned in full as soon as any portion of the premium payable for the underlying policy is earned. For any monied endorsement, the stamping fee shall be earned in full as soon as any portion of the premium payable for the endorsement is earned.
(5) Because such stamping fee does not constitute "consideration for insurance" within the meaning of 33-15-102, MCA, and thus does not constitute part of the premium for surplus lines insurance, a surplus lines insurance producer may collect such stamping fee from the insured in addition to the premium payable in consideration for the insurance contract. Nothing in this rule shall operate to exclude any other assessment, membership, inspection, or similar fee or charge from the definition of "premium" contained in 33-15-102, MCA.
(6) Both the base premium and the stamping fee of every policy of surplus lines insurance transacted in this state shall appear on the policy's declarations page and be clearly disclosed as such.
(7) For paper (hard copy) submissions, the stamping fee information on the declarations page of the surplus lines insurance policy will disclose that the stamping fee would be less, and the percentage of the base premium to calculate the stamping fee, if the submission were filed electronically:
(i) section (6) will be effective January 1, 2010.
(8) For the purposes of collecting this stamping fee only, any assessment, membership, inspection, or similar fee or charge payable separately by the insured in consideration of the policy shall be excluded from calculations of the base premium. Designation of a base premium for purposes of calculating the stamping fee shall not operate to exclude from the definition of "premium" contained in 33-15-102, MCA, any assessment, membership, inspection, or similar fee or charge in consideration of that surplus lines insurance policy.
(9) The department may collect a penalty from any surplus lines insurance producer, or any insured who independently procured insurance, and who does not pay the stamping fees by April 1 for all transactions during the preceding year. Such penalty shall equal 25 percent of the amount overdue plus 1.5 percent per month from the time of delinquency until the stamping fees are paid in full.