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§ 11-201. Purposes, intent, and construction of subtitle

West's Annotated Code of MarylandInsurance

West's Annotated Code of Maryland
Insurance (Refs & Annos)
Title 11. Insurance Rating Law
Subtitle 2. Prior Approval Rate Making (Refs & Annos)
Part I. General Provisions
MD Code, Insurance, § 11-201
§ 11-201. Purposes, intent, and construction of subtitle
Currentness
Purposes of subtitle
(a) The purposes of this subtitle are:
(1) to promote the public welfare by regulating insurance rates so that they are not excessive, inadequate, or unfairly discriminatory; and
(2) to authorize and regulate cooperative action among insurers in rate making and in other matters within the scope of this subtitle.
Legislative intent
(b) This subtitle is not intended:
(1) to prohibit or discourage reasonable competition; or
(2) to prohibit or, except to the extent necessary to accomplish the purposes stated in subsection (a) of this section, to encourage uniformity in insurance rates, rating systems, rating plans, or rating practices.
Liberal construction of subtitle
(c) This subtitle shall be interpreted liberally to carry out the provisions of this section.

Credits

Added by Acts 1997, c. 35, § 2, eff. Oct. 1, 1997.
Formerly Art. 48A, § 241.
MD Code, Insurance, § 11-201, MD INSURANCE § 11-201
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.
End of Document