1. (1) Premium taxes required by T.C.A. §56—43—116 are due and payable on or before March 1, annually. Failure to file the required return and pay taxes due promptly and correctly shall subject the insurer to the penalties set out in T.C.A. §56—4—216.
2. (2) Failure to file the annual report prescribed by the commissioner on or before March 1, shall subject the insurer to the penalties set out in T.C.A. §56—1—502.

Authority: T.C.A. §§56—2—301, 56—43—112 and 56—43—118. Administrative History: Original rule filed March 6, 1991; effective April 20, 1991.