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§ 3-112. Determination and enforcement of assessment

West's Annotated Code of MarylandInsurance

West's Annotated Code of Maryland
Insurance (Refs & Annos)
Title 3. Kinds of Insurers
Subtitle 1. Stock Insurers and Mutual Insurers (Refs & Annos)
MD Code, Insurance, § 3-112
§ 3-112. Determination and enforcement of assessment
Currentness
Determination of assessment
(a) The determination by the domestic mutual insurer of the total assessment under § 3-111 of this subtitle and the amount of each member's assessment is considered prima facie correct.
Notice of assessment and deadline for payment
(b)(1) The domestic mutual insurer shall mail to each member, at the member's last address of record with the domestic mutual insurer, notice of:
(i) the amount of the assessment to be paid; and
(ii) the period within which the assessment must be paid.
(2) The period within which the assessment must be paid may not be less than 20 days after notice.
Failure of member to pay assessment
(c)(1) If a member fails to pay the assessment within the period specified in the notice, the domestic mutual insurer may bring suit to collect the assessment.
(2) Failure of the member to receive the notice mailed in accordance with subsection (b) of this section is not a defense in an action to collect the assessment.

Credits

Added by Acts 1995, c. 36, § 1, eff. Oct. 1, 1997.
MD Code, Insurance, § 3-112, MD INSURANCE § 3-112
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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