§ 6-305. People's Insurance Counsel Fund
West's Annotated Code of MarylandState Government
MD Code, State Government, § 6-305
§ 6-305. People's Insurance Counsel Fund
(c) The purpose of the Fund is to pay all costs and expenses incurred by the Division in carrying out its duties under this subtitle.
(d) The Fund shall consist of:
(e)(1) Expenditures from the Fund may be made only by:
(2)(i) If, in any fiscal year, the amount of the assessment revenue collected by the Commissioner and deposited into the Fund exceeds the actual costs and expenses incurred by the Division to carry out its duties under this subtitle, the excess amount shall be carried forward within the Fund for the purpose of reducing the assessment imposed by the Commissioner for the following fiscal year.
(ii) If, in any fiscal year, the amount of the assessment revenue collected by the Commissioner and deposited into the Fund is insufficient to cover the actual expenditures incurred by the Division to carry out its duties under this subtitle, and expenditures are made in accordance with the budget amendment procedure provided for in § 7-209 of the State Finance and Procurement Article, an additional assessment may be made.
Credits
Added by Acts 2004, 1st Sp. Sess., c. 5, § 1, eff. Jan. 11, 2005.
MD Code, State Government, § 6-305, MD STATE GOVT § 6-305
Current with all legislation from the 2023 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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