§ 25-308. Fines and penalties
West's Annotated Code of MarylandInsurance
MD Code, Insurance, § 25-308
§ 25-308. Fines and penalties
(a)(1) After notice and opportunity for a hearing, the Commissioner may impose a monetary penalty on a person or self-insurance group that the Commissioner finds to be in violation of this subtitle or a regulation adopted under this subtitle.
(b)(1) After written notice and opportunity for a hearing, the Commissioner may issue an order that requires a person or self-insurance group to cease and desist from engaging in an act or practice that the Commissioner finds to be in violation of this subtitle or a regulation adopted under this subtitle.
(c) Notwithstanding any other provision of this subtitle, after notice and opportunity for a hearing, the Commissioner may suspend or revoke the authority of a self-insurance group to operate if the Commissioner determines that the self-insurance group:
(5) misappropriated, converted, illegally withheld, or refused to pay on proper demand money that has been entrusted to the self-insurance group or its administrator in its fiduciary capacity and that belongs to a member of the self-insurance group, an employee of a member, or a person entitled to payment; or
Credits
Added by Acts 1996, c. 11, § 1, eff. Oct. 1, 1997. Amended by Acts 1997, c. 70, § 7, eff. Oct. 1, 1997.
Formerly Art. 48A, § 609.
MD Code, Insurance, § 25-308, MD INSURANCE § 25-308
Current with all legislation from the 2023 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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