§ 32-109. Penalty for failing to file ORSA Summary Report
West's Annotated Code of MarylandInsuranceEffective: January 1, 2018
Effective: January 1, 2018
MD Code, Insurance, § 32-109
§ 32-109. Penalty for failing to file ORSA Summary Report
(a) Subject to § 2-210 of this article, a carrier that, without just cause, fails to timely file an ORSA Summary Report as required by this title is subject to a penalty of $200 for each day the violation continues, up to a maximum of $25,000.
(b) The Commissioner may reduce the penalty under subsection (a) of this section if the carrier demonstrates to the Commissioner that the imposition of the penalty would constitute a financial hardship to the carrier.
Credits
Added by Acts 2017, c. 36, § 1, eff. Jan. 1, 2018.
MD Code, Insurance, § 32-109, MD INSURANCE § 32-109
Current through legislation effective through May 8, 2023, from the 2023 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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