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2017 Maryland Code
Insurance
Title 9 - Impaired Entities
Subtitle 2 - Liquidation, Rehabilitation, Reorganization, and Conservation
§ 9-210. Commencement of delinquency proceedings
Universal Citation: MD Ins Code § 9-210 (2017)
- (a) Application for show cause order. -- The Commissioner shall commence a delinquency proceeding against an insurer by applying to the court for an order that directs the insurer to show cause why the court should not grant the relief requested.
- (b) Action by court. --
- (1) The court may consider an application for commencement of a delinquency proceeding only if the application is filed by the Commissioner in the name of the State.
- (2) After a hearing under the terms of the show-cause order, the court:
- (i) shall either grant or deny the application; and
- (ii) may order other relief as the nature of the case and the interests of the policyholders, creditors, stockholders, members, subscribers, or the public may require.
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