reglab/housing_qa huggingface dataset:
MD. Insurance Code Ann. §  2-501 (2021)
2021 Maryland Statutes|Insurance|Title 2 - Maryland Insurance Administration|Subtitle 5 - Insurance Regulation Assessment|Section 2-501 - Definitions

    (a)    In this subtitle the following words have the meanings indicated.    (b)    “Assessment” means an assessment that, subject to § 2-505(c)(3) of this subtitle, equals 60% of the Administration’s approved annual budget appropriation under this article.    (c)    “Fund” means the Insurance Regulation Fund established under § 2-505 of this subtitle.    (d)    (1)    “Health insurer” means an insurer that holds a certificate of authority issued by the Commissioner to engage in the business of health insurance.        (2)    “Health insurer” includes:            (i)    a health maintenance organization operating under a certificate of authority issued by the Commissioner under Title 19, Subtitle 7 of the Health - General Article;            (ii)    a nonprofit health service plan operating under Title 14, Subtitle 1 of this article; and            (iii)    a dental plan operating under Title 14, Subtitle 4 of this article.    (e)    “Health insurer assessment portion” means 40% of the assessment.    (f)    (1)    “Insurer” means an insurer or other entity authorized to engage in the insurance business in the State under a certificate of authority issued by the Commissioner.        (2)    “Insurer” includes:            (i)    a health maintenance organization operating under a certificate of authority issued by the Commissioner under Title 19, Subtitle 7 of the Health - General Article;            (ii)    a nonprofit health service plan operating under Title 14, Subtitle 1 of this article;            (iii)    a dental plan operating under Title 14, Subtitle 4 of this article; and            (iv)    the Maryland Automobile Insurance Fund.    (g)    “Life insurer” means an insurer that holds a certificate of authority issued by the Commissioner to engage in the business of life insurance.    (h)    “Life insurer assessment portion” means 26% of the assessment.    (i)    “Multiple type insurer” means an insurer that engages in more than one of the following types of insurance:        (1)    life;        (2)    health; or        (3)    property and casualty.    (j)    (1)    “Premium” has the meaning stated in § 1-101 of this article to the extent it is allocable to this State.        (2)    “Premium” includes any amounts paid to a health maintenance organization as compensation on a predetermined basis for providing services to members and subscribers as specified in Title 19, Subtitle 7 of the Health - General Article to the extent it is allocable to this State.    (k)    (1)    “Property and casualty insurer” means an insurer that holds a certificate of authority issued by the Commissioner to engage in the business of property and casualty insurance.        (2)    “Property and casualty insurer” includes the Maryland Automobile Insurance Fund.    (l)    “Property and casualty insurer assessment portion” means 34% of the assessment.
MD. Insurance Code Ann. §  2-502 (2021)
2021 Maryland Statutes|Insurance|Title 2 - Maryland Insurance Administration|Subtitle 5 - Insurance Regulation Assessment|Section 2-502 - Annual Assessment Fee

    (a)    The Commissioner shall collect an annual assessment fee from each insurer as provided in subsection (b) of this section.    (b)    The assessment fee shall be calculated as follows:        (1)    for each health insurer, the assessment fee is the product of the fraction obtained by dividing the gross direct premium written by the health insurer in the prior calendar year by the total amount of gross direct premium written by all health insurers in the prior calendar year, multiplied by the health insurer assessment portion;        (2)    for each life insurer, the assessment fee is the product of the fraction obtained by dividing the gross direct premium written by the life insurer in the prior calendar year by the total amount of gross direct premium written by all life insurers in the prior calendar year, multiplied by the life insurer assessment portion;        (3)    for each property and casualty insurer, the assessment fee is the product of the fraction obtained by dividing the gross direct premium written by the property and casualty insurer in the prior calendar year by the total amount of gross direct premiums written by all property and casualty insurers in the prior calendar year, multiplied by the property and casualty insurer assessment portion; and        (4)    for each domestic reinsurer subject to § 4–115(b)(2)(ii) and (c)(3) of this article, the assessment fee is the average of the assessment fee paid by the 100 property and casualty insurers with the highest gross direct written premium in the prior calendar year.    (c)    For the purpose of calculating the assessment fee in subsection (b) of this section, a multiple type insurer shall be considered either a health insurer, a life insurer, or a property and casualty insurer based on the majority of premium type written.    (d)    Notwithstanding any other provision of this subtitle, the minimum assessment shall be $300 for each authorized insurer.
MD. Insurance Code Ann. §  2-503 (2021)
2021 Maryland Statutes|Insurance|Title 2 - Maryland Insurance Administration|Subtitle 5 - Insurance Regulation Assessment|Section 2-503 - Collection, Payment and Disposition of Fee

    (a)    The Commissioner shall collect the annual assessment fee from each insurer as calculated in § 2-502 of this subtitle.    (b)    The assessment fee collected under this section is:        (1)    in addition to any penalties or premium tax imposed under this article; and        (2)    due and payable to the Commissioner on or before a date determined by the Commissioner each year.    (c)    (1)    Failure by an insurer to pay the assessment fee on or before the due date shall subject the insurer to the provisions of §§ 4-113 and 4-114 of this article.        (2)    In addition to paragraph (1) of this subsection, an assessment fee not paid on or before the due date may be subject to a penalty of 5% and interest at the rate determined under § 13-701(b)(1) of the Tax - General Article from the due date until payment is made to the Commissioner.        (3)    If an additional amount is found to be due after the assessment fee has been paid to the Commissioner, the additional amount is subject to interest at 6% from the due date until payment is made to the Commissioner.    (d)    The total amount of the assessment fee collected by the Commissioner shall be deposited in the Fund.    (e)    This section does not affect any requirement otherwise established by law for the payment of premium taxes by an insurer.
MD. Insurance Code Ann. §  2-504 (2021)
2021 Maryland Statutes|Insurance|Title 2 - Maryland Insurance Administration|Subtitle 5 - Insurance Regulation Assessment|Section 2-504 - Fee in Lieu of Other Fees; Adjusted Premiums

    (a)    The assessment fee imposed on insurers under this subtitle is in lieu of any life insurance valuation fees and a reduction in specified insurance producer fees that the Commissioner had previously charged and collected under § 2-112 of this title.    (b)    In determining adjusted premiums subject to the assessment fee, the Commissioner may use the premiums as stated in the report required under § 2-506(a) of this subtitle.
MD. Insurance Code Ann. §  2-506 (2021)
2021 Maryland Statutes|Insurance|Title 2 - Maryland Insurance Administration|Subtitle 5 - Insurance Regulation Assessment|Section 2-506 - Annual Report of Premiums; Alternative Statement

    (a)    (1)    On or before March 1 of each year, each insurer subject to this subtitle shall file with the Commissioner a report of the new and renewal gross direct premiums.        (2)    The report shall be filed in a manner and contain the information required by the Commissioner.    (b)    If an insurer files its annual statement on or before March 1, and the information required under subsection (a) of this section is included in that annual statement, the insurer is not required to file a report under subsection (a) of this section.
MD. Insurance Code Ann. §  2-507 (2021)
2021 Maryland Statutes|Insurance|Title 2 - Maryland Insurance Administration|Subtitle 5 - Insurance Regulation Assessment|Section 2-507 - Regulations

    The Commissioner may adopt regulations necessary to implement any provision of this subtitle.
MD. Insurance Code Ann. §  3-101 (2021)
2021 Maryland Statutes|Insurance|Title 3 - Kinds of Insurers|Subtitle 1 - Stock Insurers and Mutual Insurers|Section 3-101 - Scope of Subtitle

    This subtitle applies to each stock insurer and each mutual insurer that engages in or proposes to engage in the insurance business in the State.
MD. Insurance Code Ann. §  3-102 (2021)
2021 Maryland Statutes|Insurance|Title 3 - Kinds of Insurers|Subtitle 1 - Stock Insurers and Mutual Insurers|Section 3-102 - Applicability of General Corporation Statutes and Insurance Article

    (a)    Except as otherwise specifically provided in this article, each domestic insurer shall comply with the applicable provisions of the Corporations and Associations Article that relate to formation, powers vested in, and duties of corporations formed under the general provisions of the Corporations and Associations Article.    (b)    Unless a class of corporations to which this subtitle applies is specifically included in a statute passed after December 31, 1963, a domestic insurer is only subject to regulation under this article.
MD. Insurance Code Ann. §  3-103 (2021)
2021 Maryland Statutes|Insurance|Title 3 - Kinds of Insurers|Subtitle 1 - Stock Insurers and Mutual Insurers|Section 3-103 - Formation of Domestic Insurers

    (a)    A domestic insurer may be formed for insurance purposes under Title 2 of the Corporations and Associations Article.    (b)    A domestic insurer may be formed either as a mutual insurer or stock insurer, as stated in its articles of incorporation.    (c)    (1)    Each policyholder of a domestic mutual insurer, other than a holder of a reinsurance contract, is a member of the mutual insurer, with each right and obligation of membership.        (2)    Each policy shall state the provisions of paragraph (1) of this subsection.        (3)    Any person, government, governmental unit, state, or political subdivision may be a member of a domestic, foreign, or alien mutual insurer.        (4)    An officer, stockholder, trustee, or legal representative of a member:            (i)    may be recognized as acting in a representative capacity for or on behalf of the member for the purpose of the membership; and            (ii)    is not personally liable on the insurance contract for acting in that representative capacity.        (5)    A Maryland corporation may participate as a member of a mutual insurer incidentally to the purpose for which the corporation is organized.    (d)    (1)    Each member of a domestic mutual insurer is entitled to one vote, or to the number of votes the bylaws provide, based on:            (i)    the insurance in force;            (ii)    the number of policies held; or            (iii)    the amount of premium paid.        (2)    Only the policyholder under a group policy is a member of the mutual insurer and is entitled to vote at the meetings of the mutual insurer.    (e)    (1)    Except as provided in paragraph (2) of this subsection, the board of directors of a domestic insurer shall have at least nine members.        (2)    The board of directors of a domestic financial guaranty insurance company that is prohibited from issuing new policies of financial guaranty insurance shall have at least five members.
MD. Insurance Code Ann. §  3-104 (2021)
2021 Maryland Statutes|Insurance|Title 3 - Kinds of Insurers|Subtitle 1 - Stock Insurers and Mutual Insurers|Section 3-104 - Approval of Articles of Incorporation and Charter

    (a)    The articles of incorporation of each domestic insurer and any amendment to its charter must be submitted to the Commissioner for examination and approval before they may be accepted for record by the Department of Assessments and Taxation.    (b)    Articles of incorporation and articles of amendment are not effective unless the Commissioner, by written endorsement on them, has approved the articles as being in accordance with the insurance laws of the State.
MD. Insurance Code Ann. §  3-105 (2021)
2021 Maryland Statutes|Insurance|Title 3 - Kinds of Insurers|Subtitle 1 - Stock Insurers and Mutual Insurers|Section 3-105 - Prerequisites to Solicitation by Prospective Mutual Insurer

    (a)    A person proposing to form a mutual insurer may not solicit in the State applications or premiums for policies of the proposed mutual insurer until the person provides the Commissioner with specific information about the methods and proposed cost of the promotion.    (b)    (1)    Before a person proposing to form a mutual insurer solicits applications or premiums for policies, the person shall have funds acquired in accordance with § 3-116 of this subtitle in the amount of:            (i)    $125,000, if the person will solicit applications or premiums for one kind of insurance business, as set out in § 4-104 of this article; or            (ii)    $250,000, if the person will solicit applications or premiums for two or more kinds of insurance business.        (2)    The funds shall be held in cash or in investments authorized for capital and reserve under Title 5, Subtitle 6 of this article.    (c)    (1)    A person must obtain a license from the Commissioner before the person forms a mutual insurer in the State.        (2)    Before issuing a license, the Commissioner shall investigate the record of the applicant.        (3)    The Commissioner shall issue a license under this subsection if the Commissioner finds that the applicant is honest and trustworthy.
MD. Insurance Code Ann. §  3-106 (2021)
2021 Maryland Statutes|Insurance|Title 3 - Kinds of Insurers|Subtitle 1 - Stock Insurers and Mutual Insurers|Section 3-106 - Assets Required for Mutual Insurer -- in General

    To qualify for a certificate of authority to engage in the insurance business, a mutual insurer must:         (1)    meet the requirements of § 3-105 of this subtitle; and        (2)    have received applications and collected cash premiums in an amount that, when added to any other legally available funds, results in unencumbered assets greater than all required reserves and other liabilities at least equal to the amount required by:            (i)    Sections 4-104 and 4-105 of this article, if the mutual insurer will be authorized to engage in insurance business on a nonassessable basis; or            (ii)    Section 3-107 of this subtitle, if the mutual insurer will be authorized to engage in insurance business on an assessable basis.
MD. Insurance Code Ann. §  3-108 (2021)
2021 Maryland Statutes|Insurance|Title 3 - Kinds of Insurers|Subtitle 1 - Stock Insurers and Mutual Insurers|Section 3-108 - Engaging in Additional Kinds of Insurance Business

    After being authorized to engage in one kind of insurance business, a mutual insurer may be authorized by the Commissioner to engage in additional kinds of insurance business as allowed by § 4-111 of this article if the mutual insurer otherwise complies with this article.
MD. Insurance Code Ann. §  3-109 (2021)
2021 Maryland Statutes|Insurance|Title 3 - Kinds of Insurers|Subtitle 1 - Stock Insurers and Mutual Insurers|Section 3-109 - Impairment of Required Surplus

    (a)    If the minimum surplus of a stock insurer required to be maintained by § 4-105 of this article becomes impaired, or if the assets of a mutual insurer are less than its liabilities and the minimum amount of surplus required to be maintained by §§ 3-106 and 3-107 of this subtitle for authority to engage in the kinds of insurance business being transacted, the Commissioner immediately shall:        (1)    determine the amount of deficiency; and        (2)    serve notice on the insurer to cure the deficiency within 60 days after service of the notice.    (b)    An insurer may cure the deficiency:        (1)    in cash or in assets eligible for the investment of the insurer’s funds under Title 5, Subtitle 5 or Subtitle 6 of this article;        (2)    if a stock insurer, by reducing its capital to an amount not below the minimum required for the kinds of insurance that the stock insurer will transact; or        (3)    if a mutual insurer, by amending its certificate of authority to cover only the kinds of insurance for which the mutual insurer has sufficient surplus under this article.    (c)    (1)    Except as provided in paragraph (2) of this subsection, if an insurer does not cure the deficiency and file proof that it has done so with the Commissioner within the 60-day period:            (i)    the insurer is considered insolvent; and            (ii)    the Commissioner shall institute delinquency proceedings against the insurer under Title 9, Subtitle 2 of this article.        (2)    If the deficiency exists because the Commissioner required increased loss reserves, disallowed certain assets, or reduced the value at which certain assets are carried in the insurer’s accounts, the Commissioner, on application and good cause shown, may extend for not more than an additional 60 days the period within which the insurer may cure the deficiency and file proof that it has done so.    (d)    The directors of an insurer are individually liable for losses incurred under policies that are issued by the insurer:        (1)    after expiration of the period provided for curing a deficiency of the insurer’s capital stock or surplus; and        (2)    before the deficiency is cured.
MD. Insurance Code Ann. §  3-110 (2021)
2021 Maryland Statutes|Insurance|Title 3 - Kinds of Insurers|Subtitle 1 - Stock Insurers and Mutual Insurers|Section 3-110 - Contingent Liability of Members

    (a)    (1)    Except as provided in § 3-113 of this subtitle for nonassessable policies, each member of a domestic mutual insurer other than a life insurer is contingently liable on a pro rata basis for the discharge of the liabilities of the domestic mutual insurer.        (2)    The contingent liability provided for by this subsection shall be expressly stated in each policy.    (b)    Termination of the policy of a member does not relieve the member of the contingent liability for the member’s proportion, if any, of the obligations of the domestic mutual insurer that accrued while the policy was in force.    (c)    The unrealized contingent liability of a member is not an asset of the domestic mutual insurer in determining its financial condition.
MD. Insurance Code Ann. §  3-111 (2021)
2021 Maryland Statutes|Insurance|Title 3 - Kinds of Insurers|Subtitle 1 - Stock Insurers and Mutual Insurers|Section 3-111 - Levy of Assessment

    (a)    The directors of a domestic mutual insurer shall assess its members who, at any time during the 36 months before the notice of assessment is mailed to them under § 3-112(b) of this subtitle, held policies providing for contingent liability, if:        (1)    the assets of the domestic mutual insurer at any time are less than its liabilities plus the minimum surplus required to be maintained to transact the kind of insurance being transacted by the domestic mutual insurer; and        (2)    the deficiency is not being cured from other sources.    (b)    Members assessed under this section are liable to the domestic mutual insurer for the amount assessed.    (c)    (1)    The total of assessments shall be sufficient to:            (i)    cure the deficiency; and            (ii)    provide reasonable working funds above the minimum surplus, not exceeding 5% of the domestic mutual insurer’s liabilities on the date that the deficiency was determined.        (2)    A member’s assessment may not exceed the lesser of:            (i)    one policy premium; or            (ii)    the premium for a full year.    (d)    The assessment on a policy with contingent liability shall be computed based on the premiums earned on the policy during the period to which the assessment relates.    (e)    A member may not have an offset against an assessment for which the member is liable because of a claim for an unearned premium or loss payable.
MD. Insurance Code Ann. §  3-112 (2021)
2021 Maryland Statutes|Insurance|Title 3 - Kinds of Insurers|Subtitle 1 - Stock Insurers and Mutual Insurers|Section 3-112 - Enforcement of Contingent Liability

    (a)    The determination by the domestic mutual insurer of the total assessment under § 3-111 of this subtitle and the amount of each member’s assessment is considered prima facie correct.    (b)    (1)    The domestic mutual insurer shall mail to each member, at the member’s last address of record with the domestic mutual insurer, notice of:            (i)    the amount of the assessment to be paid; and            (ii)    the period within which the assessment must be paid.        (2)    The period within which the assessment must be paid may not be less than 20 days after notice.    (c)    (1)    If a member fails to pay the assessment within the period specified in the notice, the domestic mutual insurer may bring suit to collect the assessment.        (2)    Failure of the member to receive the notice mailed in accordance with subsection (b) of this section is not a defense in an action to collect the assessment.
MD. Insurance Code Ann. §  3-113 (2021)
2021 Maryland Statutes|Insurance|Title 3 - Kinds of Insurers|Subtitle 1 - Stock Insurers and Mutual Insurers|Section 3-113 - Issuance of Nonassessable Policies

    (a)    If a domestic mutual insurer has surplus funds at least equal to the paid-in capital stock and surplus required of a domestic stock insurer that transacts like kinds of insurance business, the domestic mutual insurer, on receipt of an order of the Commissioner authorizing it to do so, may extinguish the contingent liability of its members as to all its policies in force and may issue nonassessable policies.    (b)    Subject to the requirements of this article for issuing nonassessable policies, a foreign or alien mutual insurer may issue nonassessable policies to its members in the State under its articles of incorporation and the laws of its domicile.    (c)    A mutual insurer may not issue assessable policies in the State if the mutual insurer issues nonassessable policies in the State or another jurisdiction.    (d)    A policy of a domestic mutual insurer that, under an order of the Commissioner, is without contingent liability and therefore is nonassessable by its terms is not subject to assessment for a debt or liability of the domestic mutual insurer.    (e)    The Commissioner shall revoke the authority of a mutual insurer to issue nonassessable policies if:        (1)    the assets of the mutual insurer at any time are less than the sum of its liabilities and the surplus required for that authority; or        (2)    the mutual insurer, by resolution of its board of directors approved by a majority of its members, requests that the authority be revoked.    (f)    After revocation of a mutual insurer’s authority to issue nonassessable policies, the mutual insurer may not:        (1)    issue a nonassessable policy; or        (2)    renew a policy that is renewable at the option of the mutual insurer without endorsing the policy to provide for the contingent liability of the policyholder.