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§ 24-212. Excessive surplus

West's Annotated Code of MarylandInsurance

West's Annotated Code of Maryland
Insurance (Refs & Annos)
Title 24. State Created Mutual Societies and Other Entities (Refs & Annos)
Subtitle 2. Medical Mutual Liability Insurance Society of Maryland (Refs & Annos)
MD Code, Insurance, § 24-212
§ 24-212. Excessive surplus
In general
(a) If the Society requests a rate increase of more than 7.5% and, at the time of the rate filing, the Society's surplus is more than 500% of its authorized control level risk-based capital, the Commissioner may determine whether the Society's surplus is excessive.
Reduction of rates
(b) If, after a hearing, the Commissioner determines that the surplus is excessive, the Commissioner may order the rates filed to be reduced.

Credits

Added by Acts 2004, 1st Sp. Sess., c. 5, § 1, eff. Jan. 11, 2005. Amended by Acts 2005, c. 1, § 1, eff. April 1, 2005.
MD Code, Insurance, § 24-212, MD INSURANCE § 24-212
Current through all legislation from the 2022 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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