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§ 13-211. Insurance coverage required

West's Annotated Code of MarylandAgriculture

West's Annotated Code of Maryland
Agriculture
Title 13. Grain
Subtitle 2. Grain Dealers Licensing
MD Code, Agriculture, § 13-211
§ 13-211. Insurance coverage required
Currentness
Insurance required
(a) Each person licensed under the provisions of this subtitle shall insure and at all times keep insured, in his own name or as a coinsurer, all of the grain in the actual, physical control of the licensee.
Amount
(b) The amount of the insurance shall be the fair market value of the grain.
Coverage
(c) The insurance shall include coverage against loss or damage by fire, lightning, inherent explosion, windstorm, cyclone, tornado, or other act of God.
Notice of loss or damage
(d) In the event of any loss or damage to grain or to the warehouse or warehouses, whether or not the loss was insured against, the grain dealer shall immediately notify the Secretary, and at the grain dealer's own expense promptly take the steps necessary to collect any money which may be due as indemnity for the loss or damage.
Proof of insurance
(e) Upon request of the Secretary, each person licensed under this subtitle shall provide proof of insurance coverage as required by this section.

Credits

Added by Acts 1981, c. 778. Amended by Acts 1982, c. 404; Acts 1986, c. 210.
MD Code, Agriculture, § 13-211, MD AGRIC § 13-211
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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