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§ 19-305. Antiarson application forms

West's Annotated Code of MarylandInsurance

West's Annotated Code of Maryland
Insurance (Refs & Annos)
Title 19. Property and Casualty Insurance
Subtitle 3. Fire Insurance Application Act (Refs & Annos)
MD Code, Insurance, § 19-305
§ 19-305. Antiarson application forms
Currentness
Two-tier antiarson application form
(a)(1) The Commissioner shall adopt a two-tier antiarson application form that requires an applicant to complete a second-tier supplementary application if the initial first-tier application elicits certain predesignated answers.
(2) In adopting the antiarson application form, the Commissioner shall consider generally recognized two-tier application forms.
Application requirements
(b) An antiarson application shall include:
(1) the name and address of the applicant, any mortgagee, and any other party with an ownership interest in the property to be insured;
(2) the amount of insurance requested and the method of valuation used to establish that amount;
(3) the dates and selling prices of the property to be insured in all real estate transactions involving the property during the 3-year period immediately preceding the date of the antiarson application;
(4) the applicant's history of losses during the 5-year period immediately preceding the date of the antiarson application with regard to any property:
(i) in which the applicant held an interest, including a partnership or mortgage interest, that is substantial; and
(ii) that sustained a fire loss exceeding 25% of the insured value;
(5) all taxes that are unpaid or overdue for 1 or more years; and
(6) the present occupancy of the property to be insured.

Credits

Added by Acts 1996, c. 11, § 1, eff. Oct. 1, 1997.
Formerly Art. 48A, § 576.
MD Code, Insurance, § 19-305, MD INSURANCE § 19-305
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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