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§ 4-302. Public policy

West's Annotated Code of MarylandInsurance

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)
MD Code, Insurance, § 4-302
§ 4-302. Public policy
Currentness
It is the public policy of the State that, in order to safeguard the solvency of the insurance business in the State:
(1) an insurer should maintain an amount of capital in excess of the minimum RBC levels derived from the risk based capital requirements contained in this subtitle and the attendant formulas, schedules, and instructions; and
(2) additional capital is used and useful in the insurance business and helps to secure an insurer against various risks inherent in, or affecting, the insurance business and not accounted for or only partially measured by the risk based capital requirements contained in this subtitle.

Credits

Added by Acts 1995, c. 339, § 2, eff. Oct. 1, 1997.
Formerly Art. 48A, § 738.
MD Code, Insurance, § 4-302, MD INSURANCE § 4-302
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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