There is a newer version
of
this Section
2017 Maryland Code
Insurance
Title 32 - Risk Management and Own Risk and Solvency Assessment Act (Title Effective January 1, 2018.)
§ 32-109. Penalties for noncompliance.
Universal Citation: MD Ins Code § 32-109 (2017)
- (a) In general. -- Subject to ยง 2-210 of this article, a carrier that, without just cause, fails to timely file an ORSA Summary Report as required by this title is subject to a penalty of $ 200 for each day the violation continues, up to a maximum of $ 25,000.
- (b) Reduction of penalty. -- The Commissioner may reduce the penalty under subsection (a) of this section if the carrier demonstrates to the Commissioner that the imposition of the penalty would constitute a financial hardship to the carrier.
- (c) Other actions permitted. -- This section does not limit the authority of the Commissioner to take any other action authorized by this article.
Disclaimer: These codes may not be the most recent version. Maryland may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.
