§ 4-103. Capital and surplus requirements
West's Annotated Code of MarylandInsuranceEffective: October 1, 2011
Effective: October 1, 2011
MD Code, Insurance, § 4-103
§ 4-103. Capital and surplus requirements
(a) Capital and surplus requirements for an insurer shall be based on all the kinds of insurance business that the insurer transacts or will transact, regardless of where the insurance business is transacted.
(b) To qualify for an initial certificate of authority to engage in one kind or a combination of kinds of insurance business, an insurer must have and maintain the capital stock and surplus requirements of:
(c)(1) In addition to any other capital and surplus requirements of this article, each insurer's assets and surplus as regards policyholders shall be reasonable in relation to the insurer's outstanding liabilities and adequate to its financial needs.
Credits
Added by Acts 1995, c. 36, § 1, eff. Oct. 1, 1997. Amended by Acts 1995, c. 339, § 2, eff. Oct. 1, 1997; Acts 1997, c. 70, § 1, eff. Oct. 1, 1997.
Formerly Art. 48A, § 47.
MD Code, Insurance, § 4-103, MD INSURANCE § 4-103
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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