(a) Subject to the approval of the Treasurer, the Commissioner may provide by regulation for the payment of unpaid premium taxes or fees owed by an insurer in funds that are immediately available to the State on the date that the payment is due if the total of the unpaid premium taxes or fees is at least $20,000.
(b) Any regulations adopted under this section shall establish a suitable means for payment in immediately available funds to ensure the availability of those funds to the State on the date that payment is due.
Structure Maryland Statutes
Title 2 - Maryland Insurance Administration
Subtitle 1 - Organization of Administration; General Powers and Duties of Commissioner
Section 2-101 - Insurance Administration
Section 2-102 - Organization of Administration
Section 2-104 - Staff of Administration; Licensing Services
Section 2-105 - Management, Professional, or Technical Employees
Section 2-106 - Skilled Service Employees
Section 2-107 - Conflicts of Interest
Section 2-108 - General Powers and Duties of Commissioner
Section 2-112.2 - Health Care Regulatory Assessment
Section 2-112.3 - Health Care Regulatory Fund
Section 2-113 - Payment of Taxes or Fees in Immediately Available Funds
Section 2-114 - Disposition of Money
Section 2-115 - Adoption of Regulations in Emergency
Section 2-116 - Delivery of Notice by Electronic Means -- Presumption of Receipt