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§ 4-303. RBC reports

West's Annotated Code of MarylandInsuranceEffective: April 5, 2018

West's Annotated Code of Maryland
Insurance (Refs & Annos)
Title 4. General Requirements for Insurers
Subtitle 3. Risk Based Capital Standards for Insurers (Refs & Annos)
Effective: April 5, 2018
MD Code, Insurance, § 4-303
§ 4-303. RBC reports
Currentness
In general
(a)(1)(i) On or before the filing date, each domestic insurer shall prepare and submit to the Commissioner a report of its RBC levels as of the end of the immediately preceding calendar year.
(ii) The RBC report shall be in the form and shall contain the information required by the RBC instructions.
(2) In addition to the requirements of paragraph (1) of this subsection, each domestic insurer shall file its RBC report:
(i) with the NAIC in accordance with the RBC instructions; and
(ii) on written request, with the insurance commissioner of any state in which the insurer is authorized to do business, on or before the later of:
1. 15 days after receipt of the written request to file its RBC report with that state; or
2. the filing date.
Inaccurate RBC reports
(b) If a domestic insurer files an RBC report that, in the judgment of the Commissioner, is inaccurate, the Commissioner shall:
(1) adjust the RBC report to correct the inaccuracy; and
(2) notify the insurer of the adjustment, including a statement of the reason for the adjustment.

Credits

Added by Acts 1995, c. 339, § 2, eff. Oct. 1, 1997. Amended by Acts 2018, c. 12, § 1, eff. April 5, 2018.
Formerly Art. 48A, § 740.
MD Code, Insurance, § 4-303, MD INSURANCE § 4-303
Current through legislation effective through April 9, 2023, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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