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Subtitle 1 - Stock Insurers and Mutual Insurers
Section 3-101 - Scope of Subtitle - This subtitle applies to each stock insurer and each mutual...
Section 3-102 - Applicability of General Corporation Statutes and Insurance Article - (a) Except as otherwise specifically provided in this article, each...
Section 3-103 - Formation of Domestic Insurers - (a) A domestic insurer may be formed for insurance purposes...
Section 3-104 - Approval of Articles of Incorporation and Charter - (a) The articles of incorporation of each domestic insurer and...
Section 3-105 - Prerequisites to Solicitation by Prospective Mutual Insurer - (a) A person proposing to form a mutual insurer may...
Section 3-106 - Assets Required for Mutual Insurer -- in General - To qualify for a certificate of authority to engage in...
Section 3-107 - Assets Required for Mutual Insurer -- Engaging in Business on Assessable Basis - (a) A mutual insurer that proposes to or writes assessable...
Section 3-108 - Engaging in Additional Kinds of Insurance Business - After being authorized to engage in one kind of insurance...
Section 3-109 - Impairment of Required Surplus - (a) If the minimum surplus of a stock insurer required...
Section 3-110 - Contingent Liability of Members - (a) (1) Except as provided in § 3-113 of this...
Section 3-111 - Levy of Assessment - (a) The directors of a domestic mutual insurer shall assess...
Section 3-112 - Enforcement of Contingent Liability - (a) The determination by the domestic mutual insurer of the...
Section 3-113 - Issuance of Nonassessable Policies - (a) If a domestic mutual insurer has surplus funds at...
Section 3-114 - Participating Policies - (a) A domestic stock insurer or domestic mutual insurer may:...
Section 3-115 - Dividends - (a) The directors of a domestic mutual insurer periodically may...
Section 3-116 - Loans to Insurers - (a) (1) A director, officer, or member of a stock...
Section 3-117 - Loans to and Guarantees of Obligations of Directors and Officers - (a) (1) Except as provided in subsection (d) of this...
Section 3-118 - Agreements to Pay Expenses of Management - A domestic stock insurer or domestic mutual insurer may not...
Section 3-119 - Restrictions on Purchase and Sale of Equity Securities of Domestic Stock Insurers - (a) In this section, “equity security” means: (1) stock or...
Section 3-120 - Conversion of Stock Insurer to Mutual Insurer - (a) This section does not apply to mutualization under a...
Section 3-121 - Conversion of Mutual Insurer to Stock Insurer - (a) A domestic mutual insurer may become a stock insurer...
Section 3-121.1 - Mutual Insurer Reorganization as Stock Insurer; Establishment of Mutual Insurance Holding Company - (a) (1) In this section the following words have the...
Section 3-122 - Consolidations, Mergers, and Share Exchanges of Stock Insurers - (a) Except as otherwise provided in this section, the provisions...
Section 3-123 - Consolidations and Mergers of Mutual Insurers - (a) (1) One or more mutual insurers organized under the...
Section 3-123.1 - Mutual Insurers Forming a Business Combination - (a) Unless otherwise prohibited under this article and subject to...
Section 3-124 - Bulk Reinsurance -- Stock Insurers - (a) A domestic stock insurer may reinsure with another insurer...
Section 3-125 - Bulk Reinsurance -- Mutual Insurers - (a) After compliance with this section, a domestic mutual insurer...
Section 3-126 - Changes in Domicile of Insurers - (a) (1) A foreign insurer authorized to engage in the...
Section 3-127 - Sale of Securities - (a) (1) In this section the following words have the...
Section 3-128 - Solicitations in Other States - (a) In this section, “reciprocating state” means a state under...
Subtitle 2 - Reciprocal Insurers
Section 3-201 - "Subscriber" Defined - In this subtitle, “subscriber” means a person that exchanges a...
Section 3-202 - Scope of Subtitle - Except as expressly provided otherwise in this subtitle, this subtitle...
Section 3-203 - Qualifications of Reciprocal Insurers - (a) A reciprocal insurer may be authorized to engage in...
Section 3-204 - Organization and Application for Certificate of Authority - (a) Twenty-five or more persons domiciled in the State may...
Section 3-205 - Bond of Attorney in Fact - (a) (1) When filing the declaration required by § 3-204...
Section 3-206 - Issuance of Certificate of Authority - After payment of the applicable fee required by § 2-112...
Section 3-207 - Scope of Certificate of Authority - (a) A certificate of authority authorizes a reciprocal insurer to...
Section 3-208 - Denials, Suspensions, and Revocations - In addition to any other grounds for denial, suspension, or...
Section 3-209 - Business Name; Authority to Sue - A reciprocal insurer: (1) shall have and use a business...
Section 3-210 - Annual Statement - The annual statement of a reciprocal insurer shall: (1) be...
Section 3-211 - Financial Condition of Reciprocal Insurer - (a) The Commissioner shall determine the financial condition of a...
Section 3-212 - Attorney in Fact; Power of Attorney - (a) The attorney in fact of a reciprocal insurer may...
Section 3-213 - Subscribers - (a) An individual, partnership, or corporation of the State may...
Section 3-214 - Subscribers' Advisory Committee - (a) The advisory committee of a domestic reciprocal insurer that...
Section 3-215 - Modification of Subscribers' Agreement or Power of Attorney - (a) Modification of the terms of the subscribers' agreement or...
Section 3-216 - Liability of Subscribers - (a) (1) Except as to a nonassessable policy, each subscriber...
Section 3-217 - Assessments - (a) Assessments periodically may be levied on the subscribers of...
Section 3-218 - Extinguishing Subscribers' Liability and Issuance of Nonassessable Policies - (a) If a reciprocal insurer has a surplus of assets...
Section 3-219 - Savings - (a) (1) The attorney in fact of a reciprocal insurer:...
Section 3-220 - Advances of Money - (a) This section does not apply to bank loans or...
Section 3-221 - Mergers and Conversions - (a) A domestic reciprocal insurer may merge with another reciprocal...
Section 3-222 - Impaired Reciprocal Insurers - (a) If the assets of a reciprocal insurer at any...
Subtitle 3 - Surplus Lines Insurance
Section 3-301 - Definitions - (a) In this subtitle the following words have the meanings...
Section 3-302 - Scope of Subtitle - (a) This subtitle does not apply to: (1) life insurance;...
Section 3-303 - Placement of Insurance With Alien Insurer - Except as provided in § 3-319(b) of this subtitle, this...
Section 3-304 - Regulations - The Commissioner may adopt reasonable regulations consistent with this subtitle...
Section 3-305 - Compliance With Filing Requirement - A report, affidavit, or return that must be filed under...
Section 3-306 - Procuring Surplus Lines Insurance Authorized - (a) Surplus lines insurance may be procured from an unauthorized...
Section 3-306.1 - Diligent Search -- When Deemed Completed or Unnecessary - (a) (1) A diligent search required by § 3–306 of...
Section 3-306.2 - Disability Insurance and Short-Term Medical Insurance -- Nonadmitted Insurers - (a) Subject to subsections (b) through (e) of this section,...
Section 3-307 - Affidavit - (a) An affidavit that sets forth the facts referred to...
Section 3-308 - Endorsement of Contract or Confirmation - Each insurance contract or confirmation procured and delivered under this...
Section 3-309 - Validity of Surplus Lines Insurance Contract - (a) An insurance contract procured as surplus lines coverage from...
Section 3-310 - Certificate of Qualification Required for Surplus Lines Broker; Exceptions - (a) Except as provided in subsection (b) of this section,...
Section 3-311 - Qualifications of Applicants - An applicant for a certificate of qualification shall: (1) be...
Section 3-312 - Applications for Certificate of Qualification - An applicant for a certificate of qualification shall: (1) file...
Section 3-313 - Bond - (a) Before the Commissioner issues a certificate of qualification to...
Section 3-314 - Issuance of Certificate of Qualification - The Commissioner shall issue a certificate of qualification to each...
Section 3-315 - Scope of Certificate of Qualification - A qualified surplus lines broker may: (1) accept and place...
Section 3-316 - Term and Renewal of Certificate of Qualification - (a) Unless a certificate of qualification is renewed for a...
Section 3-316.1 - Reinstatement of Certificate of Qualification - (a) On or before September 30 of the renewal year,...
Section 3-317 - Suspensions and Revocations - (a) The Commissioner may suspend or revoke the certificate of...
Section 3-318 - Approval of Surplus Lines Insurer - (a) The Commissioner may not approve an insurer as a...
Section 3-319 - Placement of Surplus Lines Insurance Prohibited - (a) A surplus lines broker may not place surplus lines...
Section 3-320 - Receipt of Premium by Surplus Lines Broker - (a) In any question that arises under the coverage between...
Section 3-321 - Delivery of Policy, Binder, or Cover Note - (a) (1) On placing surplus lines coverage, a surplus lines...
Section 3-322 - Records - (a) Each surplus lines broker shall keep separate records and...
Section 3-324 - Premium Receipts Tax on Surplus Lines Insurance - (a) This section does not apply to insurance of risks...
Section 3-325 - Report of Premium Receipts and Payment of Tax - (a) On or before March 15 and September 15 of...
Section 3-326 - Delivery of False Binder or Cover Note Prohibited - (a) A surplus lines broker may not: (1) knowingly or...
Section 3-327 - Short Title - This subtitle is the Surplus Lines Insurance Law.