2013 Maryland Code
§ 24-212 - Excess surplus; rate reduction.

MD Ins Code § 24-212 (2013) What's This?


(a) If the Society requests a rate increase of more than 7.5% and, at the time of the rate filing, the Society’s surplus is more than 500% of its authorized control level risk-based capital, the Commissioner may determine whether the Society’s surplus is excessive.

(b) If, after a hearing, the Commissioner determines that the surplus is excessive, the Commissioner may order the rates filed to be reduced.

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