reglab/housing_qa huggingface dataset:
MD. Insurance Code Ann. §  9-310.1 (2021)
2021 Maryland Statutes|Insurance|Title 9 - Impaired Entities|Subtitle 3 - Property and Casualty Insurance Guaranty Corporation|Section 9-310.1 - Obligations of Corporation to Cease

    (a)    Any obligation of the Corporation to defend an insured shall cease on payment by the Corporation, by settlement releasing the insured or on a judgment, of an amount equal to the lesser of the Corporation’s covered claim obligation limit or the applicable policy limit.    (b)    (1)    In this subsection, “affiliate” means a person that directly or indirectly, through one or more intermediaries, controls, is controlled by, or is under common control with another person.        (2)    Notwithstanding any other provision of this subtitle, except for a claim for benefits under workers’ compensation coverage, any obligation of the Corporation to any and all persons shall cease when $10,000,000 has been paid in the aggregate:            (i)    by the Corporation and one or more insurance guaranty corporations or associations similar to the Corporation in other states or property casualty insurance security funds that obtain contributions from insurers on a pre-insolvency basis in other states;            (ii)    to or on behalf of an insured and its affiliates; and            (iii)    on covered claims or on claims allowed arising under one or more policies of one insolvent insurer.        (3)    If the Corporation determines that there may be more than one claimant with a covered claim or allowed claim against the Corporation or any insurance guaranty corporations or associations similar to the Corporation in other states or any property casualty insurance security funds in other states, arising under one or more policies of one insolvent insurer, the Corporation may establish a plan to allocate amounts payable by the Corporation in the manner that the Corporation in its discretion considers equitable.
MD. Insurance Code Ann. §  9-311 (2021)
2021 Maryland Statutes|Insurance|Title 9 - Impaired Entities|Subtitle 3 - Property and Casualty Insurance Guaranty Corporation|Section 9-311 - Examination and Regulation; Financial Report

    (a)    The Corporation is subject to examination and regulation by the Commissioner.    (b)    By March 30 of each year, the Board of Directors shall submit to the Commissioner a financial report for the preceding calendar year in the form that the Commissioner approves.
MD. Insurance Code Ann. §  9-312 (2021)
2021 Maryland Statutes|Insurance|Title 9 - Impaired Entities|Subtitle 3 - Property and Casualty Insurance Guaranty Corporation|Section 9-312 - Exemption From Payment of Fees and Taxes

    Except for taxes on real or personal property, the Corporation is exempt from the payment of all fees and taxes levied by the State or a subdivision of the State.
MD. Insurance Code Ann. §  9-313 (2021)
2021 Maryland Statutes|Insurance|Title 9 - Impaired Entities|Subtitle 3 - Property and Casualty Insurance Guaranty Corporation|Section 9-313 - Recoupment of Assessments Paid by Member Insurers

    The rate and premium charged for a policy or surety bond to which this subtitle applies:         (1)    shall include an amount sufficient to recoup, over a reasonable length of time of not less than 3 years, the amount paid to the Corporation by the member insurer less any amount returned to the member insurer by the Corporation; and        (2)    may not be considered excessive because the rate and premium contain an amount reasonably calculated to recoup assessments paid by the member insurer.
MD. Insurance Code Ann. §  9-314 (2021)
2021 Maryland Statutes|Insurance|Title 9 - Impaired Entities|Subtitle 3 - Property and Casualty Insurance Guaranty Corporation|Section 9-314 - Immunity From Liability; Corporation Independent From State

    (a)    A member insurer, the Corporation or its agents or employees, the Board of Directors, and the Commissioner or the Commissioner’s representatives shall have the immunity from liability described in § 5-412 of the Courts Article.    (b)    Notwithstanding subsection (a) of this section, the Corporation is not and may not be deemed a department, unit, agency, or instrumentality of the State.
MD. Insurance Code Ann. §  9-315 (2021)
2021 Maryland Statutes|Insurance|Title 9 - Impaired Entities|Subtitle 3 - Property and Casualty Insurance Guaranty Corporation|Section 9-315 - Stay of Proceedings; Default Judgments

    (a)    To allow proper defense by the Corporation of pending causes of action, each proceeding in which an insolvent insurer is a party or is obligated to defend a party in a court in the State shall be stayed for 60 days after the date of the determination of insolvency.    (b)    As to a covered claim arising from a judgment under an order, decision, verdict, or finding based on the default of the insolvent insurer or its failure to defend an insured, the Corporation, on its own behalf or on behalf of the insured, may:        (1)    apply to have the judgment, order, decision, verdict, or finding set aside by the same court or administrator that made it; and        (2)    defend against the covered claim on the merits.
MD. Insurance Code Ann. §  9-316 (2021)
2021 Maryland Statutes|Insurance|Title 9 - Impaired Entities|Subtitle 3 - Property and Casualty Insurance Guaranty Corporation|Section 9-316 - Termination of Corporation; Expiration of Subtitle

    (a)    The Commissioner shall terminate by order the operation of the Corporation as to a kind of insurance covered by this subtitle for which the Commissioner has found after a hearing that there is in effect a statutory or voluntary plan:        (1)    that is permanent and is adequately funded or for which adequate funding is provided; and        (2)    that extends or will extend to policyholders and residents protection and benefits with respect to insolvent insurers not substantially less favorable and effective to those policyholders and residents than the protection and benefits provided under this subtitle for that kind of insurance.    (b)    (1)    By an order issued under subsection (a) of this section, the Commissioner shall authorize insurers to stop paying the Corporation as to the same kind of insurance for which the operation of the Corporation is terminated under the order.        (2)    Notwithstanding paragraph (1) of this subsection, assessments and payments shall continue as necessary to liquidate covered claims of insurers determined to be insolvent before the order and to liquidate the related expenses not covered by the other plan.    (c)    (1)    If the Commissioner orders the termination of the operation of the Corporation as to all kinds of insurance within its scope, the Corporation as soon as possible after the termination shall:            (i)    discharge first the functions of the Corporation as to prior insurer insolvencies not covered by the other plan, including the payment of expenses related to the discharge of these functions; and            (ii)    distribute, in accordance with paragraph (2) of this subsection, the balance of money and assets remaining to the insurers that are then writing in the State policies of the kinds of insurance covered by this subtitle and that had made payments to the Corporation.        (2)    The Corporation shall distribute the balance of money and assets remaining to the insurers pro rata on the basis of the aggregate of the payments made by the respective insurers during the period of 5 years immediately preceding the date of the order.        (3)    When the distribution as to all kinds of insurance covered by this subtitle is complete, this subtitle shall terminate.
MD. Insurance Code Ann. §  9-402 (2021)
2021 Maryland Statutes|Insurance|Title 9 - Impaired Entities|Subtitle 4 - Life and Health Insurance Guaranty Corporation Act|Section 9-402 - Purpose of Subtitle

    Subject to certain limitations, the purpose of this subtitle is to protect persons specified in § 9–403(a) through (f) of this subtitle who are policy owners, contract owners, certificate holders, beneficiaries, enrollees, payees, and assignees of life, health, annuity, and supplemental policies, plans, or contracts specified in § 9–403(g) of this subtitle against failure in the performance of contractual obligations due to the impairment or insolvency of the member insurer that issued the policies, plans, or contracts.
MD. Insurance Code Ann. §  9-404 (2021)
2021 Maryland Statutes|Insurance|Title 9 - Impaired Entities|Subtitle 4 - Life and Health Insurance Guaranty Corporation Act|Section 9-404 - Construction

    (a)    (1)    This subtitle shall be liberally construed to carry out its purpose as specified in § 9–402 of this subtitle.        (2)    Section 9–402 of this subtitle is an aid and guide to the interpretation of this subtitle.    (b)    The words “policy” and “contract” are used interchangeably throughout this subtitle.    (c)    A person may be a resident of only one state. For a person other than an individual, that state is the state in which its principal place of business is located.    (d)    (1)    Subject to paragraph (2) of this subsection, for a plan sponsor or person other than an individual, its principal place of business is the single state in which the individuals who establish policy for the direction, control, and coordination of the operations of the entity, as a whole, primarily exercise that function, as determined by the Corporation in its reasonable judgment by considering the following factors:            (i)    the state in which the primary executive and administrative headquarters of the entity is located;            (ii)    the state in which the principal office of the chief executive officer of the entity is located;            (iii)    the state in which the board of directors, or similar governing person or persons, of the entity conducts the majority of its meetings;            (iv)    the state in which the executive or management committee of the board of directors, or similar governing person or persons, of the entity conducts the majority of its meetings;            (v)    the state from which the management of the overall operations of the entity is directed; and            (vi)    for a benefit plan sponsored by affiliated companies comprising a consolidated corporation, the state in which the holding company or controlling affiliate has its principal place of business, as determined under the factors in this paragraph.        (2)    For a plan sponsor, if more than 50% of the participants in the benefit plan are employed in a single state, that state is deemed to be the principal place of business of the plan sponsor.        (3)    For an association, a committee, a joint board of trustees, or any other similar group of representatives of the parties who establish or maintain a benefit plan when there is no specific or clear designation of a principal place of business, the principal place of business is the principal place of business of the employer or employee organization that has the largest investment in the benefit plan in question.
MD. Insurance Code Ann. §  9-405 (2021)
2021 Maryland Statutes|Insurance|Title 9 - Impaired Entities|Subtitle 4 - Life and Health Insurance Guaranty Corporation Act|Section 9-405 - Corporation Established; Membership; Plan of Operation; Accounts; Supervision by Commissioner; Status

    (a)    (1)    There is a Life and Health Insurance Guaranty Corporation.        (2)    The Corporation is a private, nonprofit, nonstock corporation.        (3)    The Corporation is established to enable the guaranty of payment of benefits and continuation of coverages.    (b)    As a condition of its authority to transact insurance or health maintenance organization business in the State, each member insurer must be and remain a member of the Corporation.    (c)    The Corporation shall:        (1)    perform its functions in accordance with the plan of operation established and approved under § 9–410 of this subtitle; and        (2)    exercise its powers through the Board of Directors established under § 9–406 of this subtitle.    (d)    For administration and assessment purposes, the Corporation shall maintain:        (1)    the health account;        (2)    the life insurance account; and        (3)    the annuity account.    (e)    The Corporation is under the immediate supervision of the Commissioner and subject to the applicable insurance laws of the State.    (f)    Except as otherwise provided in this subtitle, the Corporation has perpetual existence and the powers, privileges, and immunities granted by the applicable provisions of the Corporations and Associations Article.    (g)    (1)    The Corporation is not and may not be deemed a department, unit, agency, or instrumentality of the State for any purpose.        (2)    All debts, claims, obligations, and liabilities of the Corporation, whenever incurred, shall be the debts, claims, obligations, and liabilities of the Corporation only and not of the State or the State’s agencies, instrumentalities, officers, or employees.    (h)    (1)    The money of the Corporation is not part of the General Fund of the State.        (2)    The State may not budget for or provide General Fund appropriations to the Corporation.        (3)    The debts, claims, obligations, and liabilities of the Corporation are not a debt of the State or a pledge of the credit of the State.
MD. Insurance Code Ann. §  9-406 (2021)
2021 Maryland Statutes|Insurance|Title 9 - Impaired Entities|Subtitle 4 - Life and Health Insurance Guaranty Corporation Act|Section 9-406 - Board of Directors

    (a)    (1)    The Board of Directors of the Corporation consists of at least 7 members but not more than 11 members.        (2)    The members of the Board shall be elected from among the member insurers.        (3)    The terms of the members of the Board shall be as set by the plan of operation.        (4)    A vacancy on the Board shall be filled for the remainder of the term by a majority vote of the remaining members of the Board.    (b)    (1)    The Board of Directors shall elect a chairman and appoint an executive committee.        (2)    The Board may elect other officers.    (c)    When electing members of the Board of Directors or filling vacancies on the Board, consideration shall be given to, among other things, whether all member insurers are fairly represented.    (d)    A member of the Board of Directors:        (1)    may be reimbursed by the Corporation for expenses incurred in carrying out duties as a member of the Board; but        (2)    may not otherwise receive compensation from the Corporation for the member’s service.    (e)    (1)    The Board of Directors has general oversight authority over funds provided under this subtitle to the Board of Directors or Corporation.        (2)    At any time or in any manner as the Board may direct, a receiver, liquidator, rehabilitator, or conservator appointed under this subtitle shall make a detailed accounting of expenditures to the Board.
MD. Insurance Code Ann. §  9-408 (2021)
2021 Maryland Statutes|Insurance|Title 9 - Impaired Entities|Subtitle 4 - Life and Health Insurance Guaranty Corporation Act|Section 9-408 - Additional Powers of Corporation

    The Corporation may:        (1)    enter into contracts that are necessary or proper to carry out the provisions and purposes of this subtitle;        (2)    sue or be sued and take any other legal actions necessary or proper for the recovery of unpaid assessments under § 9–409 of this subtitle;        (3)    borrow money to carry out the purposes of this subtitle, provided that any notes or other evidences of indebtedness of the Corporation not in default are legal investments for domestic insurers and may be carried as admitted assets;        (4)    employ or retain persons as necessary to handle the financial transactions of the Corporation and perform other functions that are necessary or proper under this subtitle;        (5)    negotiate and contract with liquidators, rehabilitators, conservators, or ancillary receivers to carry out the powers and duties of the Corporation;        (6)    take any legal action necessary to avoid payment of improper claims;        (7)    for the purposes of this subtitle and to the extent approved by the Commissioner, exercise the powers of a domestic life insurer, health insurer, or health maintenance organization, except that the Corporation may not issue policies or contracts other than those issued to perform the contractual obligation of an impaired insurer or insolvent insurer;        (8)    in accordance with the terms and conditions of the policy or contract, file for actuarially justified rate or premium increases for any policy or contract for which the Corporation provides coverage under this subtitle; and        (9)    perform any other act necessary or proper to carry out this subtitle.
MD. Insurance Code Ann. §  9-410 (2021)
2021 Maryland Statutes|Insurance|Title 9 - Impaired Entities|Subtitle 4 - Life and Health Insurance Guaranty Corporation Act|Section 9-410 - Plan of Operation

    (a)    (1)    (i)    The Corporation shall submit to the Commissioner a plan of operation and any amendments necessary or suitable to it to ensure the fair, reasonable, and equitable administration of the Corporation.            (ii)    1.    The plan of operation and any amendments to it take effect when approved in writing by the Commissioner.                2.    Unless disapproved by the Commissioner within 30 days after submission, a plan of operation and any amendments to the plan shall be deemed approved on the 31st day after the date on which the plan was submitted.        (2)    (i)    If the Corporation fails to submit suitable amendments to the plan of operation, the Commissioner, after notice and hearing, shall adopt reasonable regulations as necessary or advisable to carry out this subtitle.            (ii)    Regulations adopted under this paragraph shall continue in effect until modified by the Commissioner or superseded by an amendment to the plan of operation submitted by the Corporation and approved by the Commissioner.    (b)    Each member insurer shall comply with the plan of operation.    (c)    The plan of operation shall:        (1)    establish procedures for handling the assets of the Corporation;        (2)    establish the amounts to be reimbursed and the method of reimbursing members of the Board of Directors under § 9–406 of this subtitle;        (3)    establish regular places and times for meetings of the Board of Directors;        (4)    establish procedures for keeping records of the financial transactions of the Corporation, its agents, and the Board of Directors;        (5)    establish procedures for choosing the Board of Directors and submitting the choices to the Commissioner;        (6)    establish any additional procedures for assessments under § 9–409 of this subtitle; and        (7)    contain any additional provisions necessary or proper to perform the powers and duties of the Corporation.    (d)    (1)    The plan of operation may provide that any or all of the powers and duties of the Corporation, except those under §§ 9–408(3) and 9–409 of this subtitle, may be delegated to a person that performs or will perform functions similar to those of the Corporation or its equivalent in two or more states.        (2)    A person to which powers and duties are delegated under the plan of operation shall be:            (i)    reimbursed for any payments made on behalf of the Corporation; and            (ii)    paid for its performance of the functions of the Corporation.        (3)    A delegation under this subsection may:            (i)    take effect only with the approval of the Board of Directors and Commissioner; and            (ii)    be made only to a person that extends protection not substantially less favorable and effective than that provided by this subtitle.
MD. Insurance Code Ann. §  9-411 (2021)
2021 Maryland Statutes|Insurance|Title 9 - Impaired Entities|Subtitle 4 - Life and Health Insurance Guaranty Corporation Act|Section 9-411 - Duties and Powers of Commissioner; Judicial Review; Notice of Effect of Subtitle

    (a)    (1)    The Commissioner:            (i)    shall notify the Board of Directors of the existence of an impaired insurer not later than 3 days after a determination of impairment is made or the Commissioner receives notice of impairment;            (ii)    on request of the Board of Directors, shall provide the Corporation with a statement of the premiums in the State and other appropriate states for each member insurer;            (iii)    when an impairment is declared and the amount of the impairment is determined, shall serve a demand on the impaired insurer to make good the impairment within a reasonable time; and            (iv)    shall be appointed as:                1.    the liquidator or rehabilitator in a liquidation or rehabilitation proceeding involving a domestic member insurer; or                2.    the conservator or ancillary receiver in a liquidation proceeding involving a member insurer that is a foreign insurer in its domiciliary jurisdiction or an alien insurer in its state of entry.        (2)    (i)    Notice to the impaired insurer under paragraph (1)(iii) of this subsection is deemed notice to its shareholders.            (ii)    Failure of the impaired insurer to comply promptly with a demand to make good the impairment does not excuse the Corporation from the performance of its duties and powers under this subtitle.    (b)    (1)    The Commissioner:            (i)    after notice and hearing, may suspend or revoke the license or certificate of authority to transact business in the State of any member insurer that fails to pay an assessment when due or fails to comply with the plan of operation; or            (ii)    on behalf of the Corporation, may impose a penalty on a member insurer that fails to pay an assessment when due.        (2)    A penalty imposed under paragraph (1)(ii) of this subsection may not exceed 5% of the unpaid assessment per month and may not be less than $100 per month.    (c)    (1)    Within 30 days after an action of the Board of Directors or Corporation, a member insurer may appeal the action to the Commissioner.        (2)    A final action or order of the Commissioner under this subtitle is subject to judicial review.    (d)    The liquidator, rehabilitator, or conservator of an impaired insurer may notify all interested persons of the effect of this subtitle.
MD. Insurance Code Ann. §  9-413 (2021)
2021 Maryland Statutes|Insurance|Title 9 - Impaired Entities|Subtitle 4 - Life and Health Insurance Guaranty Corporation Act|Section 9-413 - Special Deputy

    The Corporation may recommend an individual to serve as a special deputy to act for the Commissioner and under the Commissioner’s supervision in the liquidation, rehabilitation, or conservation of a member insurer.
MD. Insurance Code Ann. §  9-415 (2021)
2021 Maryland Statutes|Insurance|Title 9 - Impaired Entities|Subtitle 4 - Life and Health Insurance Guaranty Corporation Act|Section 9-415 - Examination and Regulation; Financial Report

    (a)    The Corporation is subject to examination and regulation by the Commissioner.    (b)    By May 1 of each year, the Board of Directors shall submit to the Commissioner:        (1)    a financial report for the preceding calendar year in the form that the Commissioner approves; and        (2)    a report of its activities during the preceding calendar year.
MD. Insurance Code Ann. §  9-416 (2021)
2021 Maryland Statutes|Insurance|Title 9 - Impaired Entities|Subtitle 4 - Life and Health Insurance Guaranty Corporation Act|Section 9-416 - Exemption From Payment of Fees and Taxes

    Except for taxes on real property, the Corporation is exempt from the payment of all fees and taxes levied by the State or a subdivision of the State.