reglab/housing_qa huggingface dataset:
MD. Insurance Code Ann. §  20-402 (2021)
2021 Maryland Statutes|Insurance|Title 20 - Maryland Automobile Insurance Fund|Subtitle 4 - Industry Automobile Insurance Association|Section 20-402 - Composition

    (a)    The Association consists of all insurers except for the Fund that are licensed to write on a direct basis motor vehicle liability insurance or motor vehicle physical damage insurance in the State.    (b)    As a condition of its authority to write motor vehicle liability insurance or motor vehicle physical damage insurance in the State, an insurer must be and remain an Association member.
MD. Insurance Code Ann. §  20-403 (2021)
2021 Maryland Statutes|Insurance|Title 20 - Maryland Automobile Insurance Fund|Subtitle 4 - Industry Automobile Insurance Association|Section 20-403 - Board of Directors

    (a)    There is a Board of Directors to administer the Association.    (b)    (1)    The Board of Directors consists of nine members elected by Association members.        (2)    Of the nine members of the Board of Directors:            (i)    four shall be nominated by the American Property Casualty Insurance Association;            (ii)    one shall be associated with a domestic insurer that is not affiliated with the American Property Casualty Insurance Association;            (iii)    two may not be affiliated with a member company of the American Property Casualty Insurance Association or with a domestic insurer that is otherwise represented on the Board of Directors; and            (iv)    two shall be nominated by the members of the Board of Directors selected under items (i) through (iii) of this paragraph.        (3)    The term of a member of the Board of Directors is 1 year.        (4)    If the American Property Casualty Insurance Association fails to submit the name of a nominee at least 10 days before the election, the requirement that four directors be from among nominees of that group need not be met for that year.
MD. Insurance Code Ann. §  20-404 (2021)
2021 Maryland Statutes|Insurance|Title 20 - Maryland Automobile Insurance Fund|Subtitle 4 - Industry Automobile Insurance Association|Section 20-404 - Certification of Operating Loss and Assessment Limit

    (a)    On or before March 15 of each year, the Fund shall determine and the Board of Trustees shall certify to the Board of Directors the information required under subsections (b) and (c) of this section.    (b)    Subject to subsection (f) of this section, the following information certified to the Board of Directors shall be separately identified by commercial auto and private passenger auto results:        (1)    the statutory operating loss for the immediately preceding calendar year;        (2)    a calculation to yield a private passenger auto assessment limit that is determined by subtracting the year–end total surplus of the Fund for the immediately preceding calendar year from an amount equal to 25% of the average of net direct written private passenger auto premiums of the Fund for each of the three immediately preceding calendar years; and        (3)    a calculation to yield a commercial auto assessment limit that is determined by subtracting the year–end commercial auto surplus of the Fund for the immediately preceding calendar year from an amount equal to 25% of the average of net direct written commercial auto premiums of the Fund for each of the 3 immediately preceding calendar years.    (c)    The assessment certified to the Board of Directors shall be equal to:        (1)    subject to subsection (d) of this section, the assessment limit, if the assessment limit is less than or equal to the statutory operating loss; or        (2)    the statutory operating loss, if the assessment limit is greater than the statutory operating loss.    (d)    If the calculation under subsection (b)(2) of this section yields a number that is less than or equal to zero, the assessment limit is zero.    (e)    The statutory operating loss or assessment certified to the Board of Directors may not include:        (1)    assessment money received for a prior year; or        (2)    money transferred between the commercial auto and private passenger auto divisions within the Fund.    (f)    In a calculation made under this section, income or expenses not clearly attributable to either commercial auto or private passenger auto may be allocated pro rata for that year.
MD. Insurance Code Ann. §  20-406 (2021)
2021 Maryland Statutes|Insurance|Title 20 - Maryland Automobile Insurance Fund|Subtitle 4 - Industry Automobile Insurance Association|Section 20-406 - Authorization to Impose Assessment Surcharges

    (a)    (1)    The Commissioner promptly shall review the assessment allocation percentages calculated by the Association.        (2)    Unless the Commissioner finds the calculation to be inaccurate, the Commissioner shall authorize each Association member to impose an assessment surcharge on each policy of motor vehicle liability insurance or motor vehicle physical damage insurance that is written or renewed in the State during the 1-year period beginning on the next July 1 following notice of the assessment.        (3)    Subject to § 20-407 of this subtitle, the assessment surcharge shall be calculated by applying the appropriate assessment allocation percentage that is adjusted for any excess or shortfall to the premium at the inception or renewal of the policy.        (4)    The assessment surcharge may not be:            (i)    subject to change or refund; or            (ii)    considered premium income for the State premium tax or the payment of commissions.    (b)    (1)    In conformity with §§ 20-405 through 20-409 of this subtitle, each year the Fund shall impose an assessment surcharge on all of its policyholders as if the Fund were a member of the Association.        (2)    The Fund may not make a payment to the Insufficiency Assessment Reserve Fund.        (3)    The Fund shall account separately for the assessment surcharges that the Fund assesses and receives.
MD. Insurance Code Ann. §  20-407 (2021)
2021 Maryland Statutes|Insurance|Title 20 - Maryland Automobile Insurance Fund|Subtitle 4 - Industry Automobile Insurance Association|Section 20-407 - Election to Impose Assessment Surcharges

    (a)    On or before June 30 of each year, each Association member shall elect whether to recoup its share of the assessment for the immediately preceding year by imposing an assessment surcharge, where appropriate, on each of the Association member’s commercial auto policyholders or private passenger auto policyholders, or both.    (b)    An Association member that does not elect on or before June 30 to recoup its share of an assessment is considered to have recouped that assessment and to have waived its option to impose an assessment surcharge on its policyholders.    (c)    (1)    This section does not deny an Association member the right to:            (i)    absorb an annual assessment; or            (ii)    recover all or part of an annual assessment as costs in rate filings made under this article.        (2)    An Association member that recovers assessments as costs in rate filings shall identify the assessment on any premium billing to the policyholder.
MD. Insurance Code Ann. §  20-408 (2021)
2021 Maryland Statutes|Insurance|Title 20 - Maryland Automobile Insurance Fund|Subtitle 4 - Industry Automobile Insurance Association|Section 20-408 - Collection of Assessment Surcharges

    (a)    (1)    Each Association member shall apply and collect any assessment surcharge that the Association member elects to recoup under § 20-407 of this subtitle.        (2)    Policyholders of an Association member shall receive any excess surcharge credits and may be charged for any surcharge shortfall that the Association member receives from or is charged by the Association.    (b)    (1)    If an Association member elects on or before June 30 to recoup its share of an assessment, the Association member must identify clearly the assessment surcharge imposed on its policyholders by stating on the premium billing of each policyholder: “Recoupment of MAIF assessment, $_____”.        (2)    No other statement may accompany the premium billing.    (c)    Each Association member shall:        (1)    report quarterly to the Association; and        (2)    require an officer of the Association member to certify, in the manner required by the Board of Directors, that any amounts collected and paid are an accurate accounting of the assessment surcharges of the Association member.    (d)    (1)    Each Association member may keep separate and detailed records of any expenses actually incurred that are directly attributable to collection of the assessment surcharge authorized under subsection (a) of this section.        (2)    The Commissioner shall consider verified and relevant expenses to be appropriate cost items in a subsequent rate filing by the Association member.    (e)    If a policyholder fails to pay the assessment surcharge when due, the Association member may cancel the policy in accordance with the terms of the policy for nonpayment of premium.
MD. Insurance Code Ann. §  20-409 (2021)
2021 Maryland Statutes|Insurance|Title 20 - Maryland Automobile Insurance Fund|Subtitle 4 - Industry Automobile Insurance Association|Section 20-409 - Adjustments to Assessment Surcharges

    (a)    If the aggregate amount of assessment surcharges received by an Association member during a surcharge year is less than that Association member’s assessment payment, the Association member’s assessment surcharge authorized under § 20-406 of this subtitle shall be increased accordingly for the next appropriate surcharge year.    (b)    If the aggregate amount of assessment surcharges received by an Association member during a recoupment year exceeds the Association member’s assessment payment, the Association member shall deposit the excess in the Insufficiency Assessment Reserve Fund as provided in § 20-410 of this subtitle and shall receive a credit for the amount deposited against the next appropriate assessment imposed under this subtitle.    (c)    The Association may adjust the annual assessment allocation percentage for an Association member to reflect any surcharge excess or shortfall for the previous applicable surcharge year.
MD. Insurance Code Ann. §  20-410 (2021)
2021 Maryland Statutes|Insurance|Title 20 - Maryland Automobile Insurance Fund|Subtitle 4 - Industry Automobile Insurance Association|Section 20-410 - Insufficiency Assessment Reserve Fund

    (a)    There is an Insufficiency Assessment Reserve Fund.    (b)    The Insufficiency Assessment Reserve Fund shall be maintained by the Association and shall consist of:        (1)    payments of assessment surcharges collected by the Association to cover any actual operating loss that the Fund sustains;        (2)    any gross excess surcharges received by an Association member on account of an assessment made under this subtitle; and        (3)    the full amount of the income from assessment payments and gross excess surcharges in investments.    (c)    (1)    Except as provided in paragraph (2) of this subsection, the Association shall hold money of the Insufficiency Assessment Reserve Fund in trust in a separate interest-bearing account in a financial institution in the State for the use of the Fund.        (2)    The Association may authorize the financial institution where the money is deposited to invest all or part of the money in investments allowed for casualty insurers, as provided in §§ 5-601 through 5-609 of this article.    (d)    An Association member shall deposit with the Association any gross excess surcharges received because of a future assessment not later than October 15 after the surcharge year in which the gross excess surcharge was received.
MD. Insurance Code Ann. §  20-411 (2021)
2021 Maryland Statutes|Insurance|Title 20 - Maryland Automobile Insurance Fund|Subtitle 4 - Industry Automobile Insurance Association|Section 20-411 - Status of Money Received by Fund

    (a)    All money that the Fund receives from the Association to pay an assessment during the calendar year shall be considered a direct contribution to surplus for purposes of the annual statement.    (b)    (1)    The Fund shall include in its annual statement to the Commissioner an accounting of all money received during the preceding calendar year from the Insufficiency Assessment Reserve Fund.        (2)    When filing a rate with the Commissioner, the Fund may not consider money that is received from or that remains in the Insufficiency Assessment Reserve Fund.
MD. Insurance Code Ann. §  20-501 (2021)
2021 Maryland Statutes|Insurance|Title 20 - Maryland Automobile Insurance Fund|Subtitle 5 - Policies for Covered Vehicles|Section 20-501 - "Covered Vehicle" Defined

    (a)    In this subtitle, “covered vehicle” means a vehicle for which the Fund is required to provide coverage under this subtitle.    (b)    “Covered vehicle” includes:        (1)    any motor vehicle required to be registered under Title 13 of the Transportation Article;        (2)    a moped; and        (3)    a motor scooter.
MD. Insurance Code Ann. §  20-503 (2021)
2021 Maryland Statutes|Insurance|Title 20 - Maryland Automobile Insurance Fund|Subtitle 5 - Policies for Covered Vehicles|Section 20-503 - Contents of Policies

    (a)    Each policy issued by the Fund shall contain the minimum coverages required under Title 19, Subtitle 5 of this article and may contain other provisions determined by the Executive Director and approved by the Board of Trustees and the Commissioner.    (b)    At the time a policy of private passenger auto liability insurance is issued to an applicant, the Fund shall include in the policy a written notice to the applicant that contains the following disclosures:        (1)    the time and the conditions under which the applicant is eligible to seek insurance from an Association member;        (2)    that if the applicant seeks insurance from an Association member, the Association member may not refuse to underwrite the private passenger auto liability insurance risk solely because the applicant or named insured previously obtained insurance from the Fund; and        (3)    that if the applicant seeks insurance from an Association member and the Association member refuses to underwrite the applicant solely because the applicant or named insured previously obtained insurance from the Fund, the applicant may file a complaint with the Commissioner against that Association member.    (c)    Whenever the Fund issues a policy of commercial auto liability insurance under this subtitle, the Fund:        (1)    may provide coverages in addition to and in excess of the minimum coverages required by Title 19, Subtitle 5 of this article and by Title 17 of the Transportation Article; but        (2)    is not required to provide coverages in addition to and in excess of the required minimum coverages except to the extent that reinsurance for the additional or excess coverage is available and acceptable to the Fund.
MD. Insurance Code Ann. §  20-504 (2021)
2021 Maryland Statutes|Insurance|Title 20 - Maryland Automobile Insurance Fund|Subtitle 5 - Policies for Covered Vehicles|Section 20-504 - Add-on Coverage

    (a)    (1)    In this section, “add–on coverage” means coverages or services sold in connection with a policy issued by the Fund, other than coverages authorized to be offered by the Fund under this subtitle.        (2)    “Add–on coverage” includes:            (i)    rental reimbursement coverage;            (ii)    personal effects theft coverage;            (iii)    collision and comprehensive deductible waiver coverage, other than collision and comprehensive coverages provided by the Fund or other authorized insurers;            (iv)    supplemental hospital benefit coverage;            (v)    emergency living expense coverage;            (vi)    vehicle towing coverage;            (vii)    emergency vehicle repair service coverage; and            (viii)    motor club services.        (3)    “Add–on coverage” does not include fire, life, and health insurance coverages that are not directly related to the underlying motor vehicle insurance coverage and are written by an authorized insurer.    (b)    (1)    At the time coverage provided by the Fund is bound and before any add–on coverage is sold, a fund producer shall provide a clear and conspicuous written disclosure, in the form approved by the Commissioner, that:            (i)    states that the cost of add–on coverage is not part of the premium for the related policy issued by the Fund;            (ii)    includes an itemized list of any add–on coverages to be sold to the insured;            (iii)    states the nature and cost of each add–on coverage to be sold; and            (iv)    states that add–on coverage is optional and is not required under § 17–103 of the Transportation Article.        (2)    Before an insured may purchase add–on coverage, the insured shall expressly consent to the purchase by signing the disclosure form.    (c)    On continuation of a policy that includes add–on coverage, an insured need not sign a disclosure form if:        (1)    the number and type of add–on coverages under the continuation do not change from the preceding policy; and        (2)    the insured has signed the original disclosure form.    (d)    (1)    A fund producer may not:            (i)    require an insured or prospective insured to purchase an add–on coverage as a condition to purchasing the related policy issued by the Fund; or            (ii)    sell add–on coverage or any combination of add–on coverages in an amount that exceeds $200 per covered vehicle in connection with a private passenger auto insurance policy.        (2)    A pattern or practice of violations of this section by a fund producer is subject to the same penalties as a violation of § 20–513 of this subtitle.
MD. Insurance Code Ann. §  20-505 (2021)
2021 Maryland Statutes|Insurance|Title 20 - Maryland Automobile Insurance Fund|Subtitle 5 - Policies for Covered Vehicles|Section 20-505 - Claims Against Fund -- Resolution; Recording of Relevant Conversations

    (a)    The Executive Director shall settle, compromise, or defend claims against the Fund.    (b)    Notwithstanding § 9-602 of the Criminal Law Article, the Executive Director may authorize an employee of the Fund to record a telephone conversation with a policyholder, witness, claimant, investigating officer, or other interested party if:        (1)    the conversation is relevant to an accident or claim;        (2)    the party to be recorded has or might have information that is relevant to the accident or claim; and        (3)    before recording, the party to be recorded is advised of and consents to the recording.
MD. Insurance Code Ann. §  20-506 (2021)
2021 Maryland Statutes|Insurance|Title 20 - Maryland Automobile Insurance Fund|Subtitle 5 - Policies for Covered Vehicles|Section 20-506 - Reserves for Payment of Claims

    (a)    The Executive Director shall:        (1)    establish and maintain reasonable and adequate reserves for payment of claims against the Fund; and        (2)    use the same criteria as is required for use by an Association member in determining the amount of reserves that are necessary.    (b)    At least annually, the Board of Trustees shall review the reasonableness and adequacy of reserves.
MD. Insurance Code Ann. §  20-508 (2021)
2021 Maryland Statutes|Insurance|Title 20 - Maryland Automobile Insurance Fund|Subtitle 5 - Policies for Covered Vehicles|Section 20-508 - Effect of 3 Years Without Violation or Accident

    (a)    A policyholder is entitled to continuation of coverage from the Fund at rates that are reasonably comparable to those charged by standard insurers and approved by the Commissioner if, for 3 continuous years of coverage under a policy issued by the Fund, the policyholder has not:        (1)    been charged with a moving traffic violation;        (2)    had a chargeable traffic accident; and        (3)    been assessed more than one point by the Motor Vehicle Administration.    (b)    A policyholder who meets the requirements of subsection (a) of this section is not entitled to a safe driver credit as defined in the rules and rate schedules of the Fund filed with the Commissioner.    (c)    In determining eligibility for rates that are reasonably comparable to those charged by standard insurers, the Fund may not consider:        (1)    a lapse in coverage of 30 days or less; and        (2)    the addition of a driver to the policy who has certified in a manner approved by the Fund for the immediately preceding 3 continuous years that the driver has not had a moving traffic violation, has not been assessed more than one point, and has not had a chargeable traffic accident.
MD. Insurance Code Ann. §  20-509 (2021)
2021 Maryland Statutes|Insurance|Title 20 - Maryland Automobile Insurance Fund|Subtitle 5 - Policies for Covered Vehicles|Section 20-509 - Authority of Producers to Bind Coverage

    (a)    (1)    Subject to this section and the policies adopted by the Board of Trustees that relate to the binding of coverage, a fund producer may bind the minimum required coverage for an applicant in the Fund if the applicant submits an application to the fund producer and pays the appropriate premium.        (2)    To effect coverage, the fund producer must receive payment of the appropriate premium required under the policies adopted by the Board of Trustees that relate to the binding of coverage.        (3)    Payment of the appropriate premium does not occur so as to effect coverage if payment of all or part of the premium is made by an instrument that is later dishonored.    (b)    (1)    The Board of Trustees shall adopt and make available to each fund producer reasonable policies that relate to the authority of fund producers to bind coverage.        (2)    The policies shall include:            (i)    the amount of premium to be collected;            (ii)    the evidence necessary to establish the qualification of an applicant to be insured by the Fund;            (iii)    procedures for notifying the Fund of the binding of coverage; and            (iv)    the time within which the fund producer is to give notice.    (c)    The Fund:        (1)    may refuse to grant the authority of a fund producer to an insurance producer that has been previously terminated as a fund producer or that has had its license previously revoked or surrendered; and        (2)    subject to the hearing provisions of § 20-514 of this subtitle, may discipline a fund producer that:            (i)    employs or otherwise retains a person described in item (1) of this subsection; and            (ii)    allows the person to become involved in the fund producer’s operations or management contrary to a requirement of this article or order of the Administration.    (d)    Subject to subsection (e) of this section, the Fund is liable for coverage from the date that the fund producer binds coverage.    (e)    (1)    On review of an application, the Fund may cancel coverage and refuse to issue a policy if the Fund finds that:            (i)    the applicant is not qualified for insurance issued by the Fund;            (ii)    the applicant has not paid the appropriate premium; or            (iii)    the Fund is authorized to reject the application under § 20-516 of this subtitle.        (2)    Cancellation of coverage may occur not later than 60 days after coverage is effective.    (f)    Whenever coverage is canceled:        (1)    the Fund promptly shall notify the applicant, fund producer, and Motor Vehicle Administration of the cancellation;        (2)    the applicant has the right of appeal under § 20-517 of this subtitle; and        (3)    if the cancellation occurred because an applicant did not pay the appropriate premium, the Fund shall give the applicant a reasonable opportunity to pay the appropriate premium.