§ 20-408. Collection of assessment surcharges
West's Annotated Code of MarylandInsurance
MD Code, Insurance, § 20-408
§ 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.
(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, $__________”.
(c) Each Association member shall:
(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.
Credits
Added by Acts 1996, c. 11, § 1, eff. Oct. 1, 1997.
Formerly Art. 48A, § 243M.
MD Code, Insurance, § 20-408, MD INSURANCE § 20-408
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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