QLDIn ForceAct
Duties Act 2001
sec.359When premium is paid—general insurance
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### sec.359 When premium is paid—general insurance
For this chapter, a premium is paid when the first of the following happens—
the premium is received by the insurer;
a part of the premium is received by the insurer.
For subsection (1) , a premium or part of a premium is taken to be received by an insurer if—
it is received by the insurer or another person on behalf of the insurer; or
an account of the insurer is credited with the amount of the premium or part of the premium.
(sec.359-ssec.1) For this chapter, a premium is paid when the first of the following happens— the premium is received by the insurer; a part of the premium is received by the insurer.
(sec.359-ssec.2) For subsection (1) , a premium or part of a premium is taken to be received by an insurer if— it is received by the insurer or another person on behalf of the insurer; or an account of the insurer is credited with the amount of the premium or part of the premium.
- (a) the premium is received by the insurer;
- (b) a part of the premium is received by the insurer.
- (a) it is received by the insurer or another person on behalf of the insurer; or
- (b) an account of the insurer is credited with the amount of the premium or part of the premium.