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§ 5-203. Active life reserves for health insurance policies

West's Annotated Code of MarylandInsurance

West's Annotated Code of Maryland
Insurance (Refs & Annos)
Title 5. Assets, Liabilities, Reserves, and Investments of Insurers
Subtitle 2. Reserves (Refs & Annos)
MD Code, Insurance, § 5-203
§ 5-203. Active life reserves for health insurance policies
Currentness
In general
(a) An insurer shall maintain active life reserves for all health insurance policies.
Active life reserve requirements
(b) The active life reserves:
(1) shall place a sound value on the insurer's liabilities under the health insurance policies;
(2) may not be less than the reserves required by the appropriate standards set forth in regulations that the Commissioner adopts; and
(3) in the aggregate, may not be less than the pro rata gross unearned premiums for the health insurance policies.

Credits

Added by Acts 1995, c. 36, § 1, eff. Oct. 1, 1997.
Formerly Art. 48A, § 79.
MD Code, Insurance, § 5-203, MD INSURANCE § 5-203
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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