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§ 8-308.1. Reinstatement of expired registration

West's Annotated Code of MarylandInsuranceEffective: October 1, 2020

West's Annotated Code of Maryland
Insurance (Refs & Annos)
Title 8. Entities that Act as Insurers
Subtitle 3. Third Party Administrators (Refs & Annos)
Effective: October 1, 2020
MD Code, Insurance, § 8-308.1
§ 8-308.1. Reinstatement of expired registration
In general
(a) Within 1 year after the expiration date, a person whose third party administrator's registration has expired may reinstate the expired registration by:
(1) filing with the Commissioner the appropriate reinstatement application;
(2) subject to subsection (b) of this section, paying to the Commissioner a reinstatement fee of $100; and
(3) complying with the bond requirement of § 8-306 of this subtitle.
Limitation on reinstatement fee
(b) The Commissioner may limit the reinstatement fee to the amount of the renewal fee in cases where the reinstatement applicant did not make timely renewal because of temporary incapacity, hospitalization, or other hardship.
Acting as third party administrator prohibited until effective date of reinstatement
(c) A person whose third party administrator's registration has expired is prohibited from acting as a third party administrator until the effective date of reinstatement of the registration.
Failure to comply with reinstatement requirements
(d) A person who does not comply with subsection (a) of this section within 1 year after the expiration date shall apply for a third party administrator's registration under § 8-305 of this subtitle and meet any other requirements specified by the Commissioner in regulation.
Regulations
(e) The Commissioner may adopt regulations to carry out this section.

Credits

Added by Acts 1997, c. 656, § 6, eff. Oct. 1, 1997. Amended by Acts 2020, c. 522, § 1, eff. Oct. 1, 2020.
Formerly Art. 48A, § 685.1.
MD Code, Insurance, § 8-308.1, MD INSURANCE § 8-308.1
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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