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§ 9-210. Commencement of delinquency proceedings by Commissioner

West's Annotated Code of MarylandInsuranceEffective: October 1, 2011

West's Annotated Code of Maryland
Insurance (Refs & Annos)
Title 9. Impaired Entities
Subtitle 2. Liquidation, Rehabilitation, Reorganization, and Conservation (Refs & Annos)
Effective: October 1, 2011
MD Code, Insurance, § 9-210
§ 9-210. Commencement of delinquency proceedings by Commissioner
Currentness
In general
(a) The Commissioner shall commence a delinquency proceeding against an insurer by applying to the court for an order that directs the insurer to show cause why the court should not grant the relief requested.
Grant or denial of application or other relief
(b)(1) The court may consider an application for commencement of a delinquency proceeding only if the application is filed by the Commissioner in the name of the State.
(2) After a hearing under the terms of the show-cause order, the court:
(i) shall either grant or deny the application; and
(ii) may order other relief as the nature of the case and the interests of the policyholders, creditors, stockholders, members, subscribers, or the public may require.

Credits

Added by Acts 1996, c. 11, § 1, eff. Oct. 1, 1997.
Formerly Art. 48A, §§ 133, 134.
MD Code, Insurance, § 9-210, MD INSURANCE § 9-210
Current through legislation effective through April 25, 2024, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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