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§ 6-203. Amount of fraud prevention fees

West's Annotated Code of MarylandInsurance

West's Annotated Code of Maryland
Insurance (Refs & Annos)
Title 6. Taxes and Fees
Subtitle 2. Fraud Prevention Fee (Refs & Annos)
MD Code, Insurance, § 6-203
§ 6-203. Amount of fraud prevention fees
Currentness
Insurance entities collecting less than $75,000 in premiums
(a) For each insurer, health maintenance organization, nonprofit health service plan, fraternal benefit society, or any entity operating in the State under the regulatory jurisdiction of the Commissioner other than a premium finance company, a fraternal benefit society that collected less than $75,000 in premiums in the preceding calendar year, or a motor club, the fraud prevention fee shall be:
(1) $1,000;
(2) due on or before June 30 of each year; and
(3) if applicable, payable with the certificate of authority or license renewal fee.
Insurance producers, public adjusters, insurance advisers, or third party administrators
(b) For each insurance producer, public adjuster, insurance adviser, or third party administrator qualified, licensed, or registered by the Commissioner, the fraud prevention fee shall be:
(1) $15;
(2) due on or before June 30 of every other year; and
(3) if applicable, payable with the certificate of qualification, license, or registration renewal fee.
Multiple certificates of qualification, licenses, or registrations
(c) Any person that has more than one of the certificates of qualification, licenses, or registrations listed in subsection (b) of this section shall pay the $15 fraud prevention fee only once per renewal period.

Credits

Added by Acts 1997, c. 649, § 2, eff. Oct. 1, 1997; Acts 1998, c. 353, § 1, eff. Oct. 1, 1998. Amended by Acts 2001, c. 731, § 1, eff. July 2, 2001.
Formerly Art. 48A, § 640C.
MD Code, Insurance, § 6-203, MD INSURANCE § 6-203
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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