(b) Notwithstanding the provisions of subitem (a), if more than one insured from an affiliated group are named insureds on a single surplus lines insurance contract, the term "home state" means the home state, as determined pursuant to subitem (a), of the member of the affiliated group that has the largest percentage of premium attributed to it under the insurance contract. (ii) if one hundred percent of the insured risk is located out of the state referred to in subsubitem (i), the state to which the greatest percentage of the insured's taxable premium for that insurance contract is allocated. (i) the state in which an insured maintains its principal place of business or, in the case of an individual, the individual's principal residence or (6)(a) "Home state", with respect to an insured, means: (ii) Effective on the January 1, 2017, and each fifth January first thereafter, the amounts in sub-subitems (i)(A), (B), and (D) of subitem (c) shall be adjusted to reflect the percentage change for the five-year period in the Consumer Price Index for All Urban Consumers published by the Bureau of Labor Statistics of the Department of Labor. (E) the person is a municipality with a population in excess of fifty thousand persons. (D) the person is a not-for-profit organization or public entity generating annual budgeted expenditures of at least thirty million dollars as that amount is adjusted pursuant to subsubitem (ii) or
(C) the person employs more than five hundred full-time or full-time equivalent employees per individual insured or is a member of an affiliated group employing more than one thousand employees in the aggregate (B) the person generates annual revenues in excess of fifty million dollars, as that amount is adjusted pursuant to subsubitem (ii) (A) the person possesses a net worth in excess of twenty million dollars, as that amount is adjusted pursuant to subsubitem (ii) (c)(i) the person meets at least one of the following criteria: (b) the person has paid aggregate nationwide commercial property and casualty insurance premiums in excess of one hundred thousand dollars in the immediately preceding twelve months and (a) the person employs or retains a qualified risk manager to negotiate insurance coverage (5) "Exempt commercial purchaser" means any person purchasing commercial insurance that, at the time of placement, meets the following requirements: (b) the entity controls in any manner the election of a majority of the directors or trustees of the other entity. (a) the entity directly or indirectly or acting through one or more other persons owns, controls, or has the power to vote twenty-five percent or more of any class of voting securities of the other entity or (3) "Affiliated group" means any group of entities that are all affiliated. (2) "Affiliate" means, with respect to an insured, any entity that controls, is controlled by, or is under common control with the insured. (1) "Admitted insurer" means an insurer licensed to engage in the business of insurance in this State. Insurance Brokers and Surplus Lines Insurance
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