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§ 24-304. Request and application for certificate of authority

West's Annotated Code of MarylandInsuranceEffective: April 8, 2014

West's Annotated Code of Maryland
Insurance (Refs & Annos)
Title 24. State Created Mutual Societies and Other Entities (Refs & Annos)
Subtitle 3. Chesapeake Employers' Insurance Company (Refs & Annos)
Effective: April 8, 2014
MD Code, Insurance, § 24-304
§ 24-304. Request and application for certificate of authority
Currentness
In general
(a) Before October 1, 2013, the Company shall:
(1) file an application for a certificate of authority under this article and a statement of the risk-based capital levels of the Company as of the date of the application prepared in accordance with § 4-303 of this article; and
(2) take all steps necessary to be an authorized domestic insurer under State law.
Issuance of certificate of authority
(b) On approval of the application for a certificate of authority, the Commissioner shall issue to the Company a certificate of authority that authorizes the Company to issue policies under Title 9 of the Labor and Employment Article.
Powers, privileges, and immunities of Company
(c) Except as otherwise provided in this subtitle, the Company has the powers, privileges, and immunities granted by and is subject to the provisions applicable to insurers authorized to write workers' compensation insurance under this article.
Policies issued by Company
(d) The Company may issue policies for:
(1) employer's liability insurance; and
(2) insurance under a federal compensation law.
Company authorized, examined, and regulated by Commissioner
(e) Except as otherwise provided in this subtitle, the Company shall be:
(1) authorized, examined, and regulated by the Commissioner in the same manner and to the same extent as other authorized property and casualty insurers; and
(2) subject to each provision of this article that is applicable to other authorized property and casualty insurers.
Company a member of Property and Casualty Insurance Guaranty Corporation
(f) The Company is a member of the Property and Casualty Insurance Guaranty Corporation.

Credits

Added by Acts 2012, c. 570, § 1, eff. Oct. 1, 2012. Amended by Acts 2014, c. 4, § 1, eff. April 8, 2014.
MD Code, Insurance, § 24-304, MD INSURANCE § 24-304
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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