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§ 21-103. Removal of surety insurer from eligibility list

West's Annotated Code of MarylandInsuranceEffective: October 1, 2008

West's Annotated Code of Maryland
Insurance (Refs & Annos)
Title 21. Surety Insurance
Effective: October 1, 2008
MD Code, Insurance, § 21-103
§ 21-103. Removal of surety insurer from eligibility list
Penalties for surety insurers removed by District Court
(a) A surety insurer that is removed by the District Court from the list of surety insurers eligible to post bonds with the court because that surety insurer failed to timely resolve or satisfy one or more bail bond forfeitures appearing on the District Court's list of absolute bond forfeitures in default shall be subject to the penalties under § 4-113 of this article.
Penalties for surety insurers precluded or removed by circuit court
(b) A surety insurer that is precluded or removed by a circuit court from the list of surety insurers eligible to post bonds with any circuit court because that surety insurer failed to timely resolve or satisfy one or more bail bond forfeiture judgments shall be subject to the penalties under § 4-113 of this article.
Notification of Commissioner
(c) Within 14 days after the failure of a surety insurer to resolve or satisfy all bond forfeitures in default by the District Court's or circuit court's deadline, the clerk of the applicable court shall notify the Commissioner, in writing, of the name of that surety insurer and each bond forfeiture that was not resolved or satisfied by the applicable court's deadline.

Credits

Added by Acts 2006, c. 586, § 1, eff. Oct. 1, 2006. Amended by Acts 2008, c. 192, § 1, eff. Oct. 1, 2008.
MD Code, Insurance, § 21-103, MD INSURANCE § 21-103
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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