Title 2 : FEES AND OTHER SOURCES OF FUNDS

Sec. 417. (1) For the issuance or renewal of certificates of authority, licenses and certificates of registration, pursuant to pertinent provisions of this Code, the Commissioner shall collect and receive fees which shall be not less than the following:

For each certificate of authority issued to an insurance company doing business in the Philippines, two hundred pesos.

For each special certificate of authority issued to a servicing insurance company, one hundred pesos.

For each license issued to a general agent of an insurance company, fifty pesos.

For each license issued to an insurance agent, twenty-five pesos.

For each license issued to an agent of variable contract policy, twenty-five pesos.

For each license issued to an insurance broker, one hundred pesos.

For each license issued to an reinsurance broker, one hundred pesos.

For each license issued to an insurance adjuster, one hundred pesos.

For each certificate of registration issued to an actuary, fifty pesos.

For each certificate of registration issued to a resident agent, fifty pesos.

For each license issued to a rating organization, one hundred pesos.

For each certificate of registration issued to a non-life company underwriter, fifty pesos.

For each license issued to a mutual benefit association, ten pesos.

For each certificate of registration issued to a trust for charitable uses, ten pesos.
All certificates of authority and all other licenses, as well as all certificates of registration, issued to any person, partnership, association or corporation under the pertinent provisions of this Code for which no expiration date has been prescribed, shall expire on the last day of June of each year and shall be renewed annually upon application therefor and payment of the corresponding fee, if the licensee or holder of such license or certificate is continuing to comply with all the applicable provisions of existing laws, and of rules, instructions, orders and decisions of the Commissioner.

(2) For the filing of the annual statement referred to in section two hundred twenty-three, the Commissioner shall collect and receive from the insurance company so filing a fee of five hundred pesos: Provided, That a fine of one hundred pesos shall be imposed and collected by the Commissioner for each week of delay, or any fraction thereof, in the filing of the annual statement.

For the filing of annual statement referred to in section four hundred, the Commissioner shall collect and receive from the mutual benefit association so filing a fee of ten pesos: Provided, That a fine of ten pesos shall be imposed and collected by the Commissioner for each week of delay, or any fraction thereof, in the filing of the annual statement.

(3) For the examination prescribed in section two hundred forty-six, the Commissioner shall collect and receive fees according to the amount of its total assets, in the case of a domestic company, or of its assets in the Philippines, in the case of a foreign company, as follows:

(a) Two million pesos or more but less than four million pesos, Four hundred pesos;

(b) Four million pesos or more but less than six million pesos, Eight hundred pesos;

(c) Six million pesos or more but less than eight million pesos, One thousand two hundred pesos;

(d) Eight million pesos or more but less than ten million pesos, One thousand six hundred pesos;

(e) Ten million pesos or more, Two thousand pesos;

Provided, That if the said examination is made in places outside the Metropolitan Manila area, besides these fees, the Commissioner shall require of the company examined the payment of the actual and necessary travelling and subsistence expenses of the examiner or examiners concerned.

For the examination prescribed in section three hundred ninety-nine, the Commissioner shall collect and receive a minimum fee of one hundred pesos from the mutual benefit association examined: Provided, That if such association has total assets of more than one hundred thousand pesos, an additional fee of ten pesos for every fifty thousand pesos in excess thereof shall be imposed: Provided, further, That such fee shall not exceed two thousand pesos.

(4) For the filing of an application to withdraw from the Philippines under title eighteen, the Commissioner shall collect and receive from the foreign company so withdrawing a fee of one thousand pesos.

(5) The Commissioner may fix and collect fees or charges for documents, transcripts, or other materials which may be furnished by him not in excess of reasonable cost. (As amended by Presidential Decree No. 1455).

Sec. 418. If the total expenses of the Insurance Commissioner for every fiscal year exceed the aggregate amount of the fees collected under the pertinent provisions of this Code, the excess shall be charged against the Insurance Fund, which shall hereafter be created out of the proceeds of taxes on insurance premiums mentioned in section two hundred fifty-five of the National Internal Revenue Code, as amended: Provided, however, That pending the creation of said Insurance Fund, the provisions of section two, three and four of Republic Act Numbered Two Hundred Seventy-Five, shall continue to remain in force and effect.