Home Table of Contents

§ 5-705. Deficiency of deposit

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 7. Administration of Deposits (Refs & Annos)
MD Code, Insurance, § 5-705
§ 5-705. Deficiency of deposit
Currentness
An insurer shall deposit promptly additional cash or other or additional government securities eligible for deposit under § 5-701(b) of this subtitle in an amount sufficient to cure any deficiency if:
(1) the cash or government securities deposited by the insurer and held on deposit under this subtitle become ineligible for deposit under § 5-701(b) of this subtitle; or
(2) the market value of the deposited cash and government securities falls below the amount required under this article.

Credits

Added by Acts 1995, c. 36, § 1, eff. Oct. 1, 1997.
Formerly Art. 48A, § 115.
MD Code, Insurance, § 5-705, MD INSURANCE § 5-705
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