Maryland Insurance Section 8-412

Article - Insurance

§ 8-412.

      (a)      The incorporators shall file with the Commissioner:

            (1)      the articles of incorporation of the society;

            (2)      certified copies of the society's laws and rules;

            (3)      copies of all proposed:

                  (i)      forms of certificates;

                  (ii)      applications for certificates; and

                  (iii)      circulars to be issued by the society; and

            (4)      a bond conditioned on the return to applicants of advance premiums if the organization of the society is not completed within 1 year.

      (b)      The Commissioner may require any additional information that the Commissioner considers necessary.

      (c)      The bond required under subsection (a) of this section must:

            (1)      be issued by a surety insurer approved by the Commissioner; and

            (2)      be in the amount required by the Commissioner, but not less than $300,000 nor more than $1,500,000.

      (d)      Each document filed shall be in the English language.



This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.