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§ 8-462. Examination of foreign or alien societies

West's Annotated Code of MarylandInsurance

West's Annotated Code of Maryland
Insurance (Refs & Annos)
Title 8. Entities that Act as Insurers
Subtitle 4. Fraternal Benefit Societies (Refs & Annos)
Part VI. Enforcement and Penalties
MD Code, Insurance, § 8-462
§ 8-462. Examination of foreign or alien societies
Currentness
In general
(a) The Commissioner or a person appointed by the Commissioner may examine any foreign or alien society that transacts or applies for admission to transact business in the State.
Powers of Commissioner in conducting examination
(b) In conducting an examination under this section, the Commissioner or person appointed by the Commissioner shall have free access to all books, documents, and records that relate to the business of the society.
Examination by state or jurisdiction where society organized
(c) Instead of conducting an examination, the Commissioner may accept the examination of the insurance department of the state or jurisdiction where the society is organized.
Compensation and expense of examination paid by society
(d) The compensation and expenses of the examiners making an examination or valuation shall be paid by the society examined or the society whose certificate obligations are valued, on statements provided by the Commissioner.

Credits

Added by Acts 1995, c. 36, § 1, eff. Oct. 1, 1997.
Formerly Art. 48A, § 342.
MD Code, Insurance, § 8-462, MD INSURANCE § 8-462
Current through legislation effective through April 9, 2023, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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