(a) The Executive Director shall:
(1) establish and maintain reasonable and adequate reserves for payment of claims against the Fund; and
(2) use the same criteria as is required for use by an Association member in determining the amount of reserves that are necessary.
(b) At least annually, the Board of Trustees shall review the reasonableness and adequacy of reserves.
Structure Maryland Statutes
Title 20 - Maryland Automobile Insurance Fund
Subtitle 5 - Policies for Covered Vehicles
Section 20-501 - "Covered Vehicle" Defined
Section 20-502 - Eligibility Requirements for Policyholders
Section 20-503 - Contents of Policies
Section 20-504 - Add-on Coverage
Section 20-505 - Claims Against Fund -- Resolution; Recording of Relevant Conversations
Section 20-506 - Reserves for Payment of Claims
Section 20-507 - Determination, Collection, and Financing of Premiums; Installment Payment Plans
Section 20-508 - Effect of 3 Years Without Violation or Accident
Section 20-509 - Authority of Producers to Bind Coverage
Section 20-510 - Fiduciary Duties of Producer
Section 20-512 - Payment of Commission to Producer
Section 20-513 - Actions Against Producers -- in General
Section 20-514 - Actions Against Producers -- Notice and Hearing
Section 20-515 - Recovery of Money Owed to Fund
Section 20-516 - Grounds for Rejection or Cancellation of Insurance
Section 20-517 - Appeal of Rejection or Cancellation of Insurance
Section 20-518 - Effect of Driving Record on Insurability
Section 20-519 - Continuation of Coverage of Family Members on Exclusion of Policyholder