2742

LAWS OF MARYLAND

Ch. 733

FOR the purpose of abolishing the exemption of industrial
insureds from the provisions of the unauthorized
insurers subtitle and making these industrial insureds
responsible for reporting unauthorized insurance
transactions and paying a premium receipts tax on such
transactions; and correcting language.

BY repealing

Article 48A - Insurance Code

Section 211A(h)

Annotated Code of Maryland

(1979 Replacement Volume and 1980 Supplement)

BY repealing and reenacting, with amendments,

Article 48A - Insurance Code

Section 209(a) and 211A(h)

Annotated Code of Maryland

(1979 Replacement Volume and 1980 Supplement)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That section(s) of the Annotated Code of Maryland
be repealed, amended, or enacted to read as follows:

Article 48A - Insurance Code

209.

(a) Every insured who procures or causes to be
procured insurance with any unauthorized insurer, or any
insured or self-insured who so procures or continues excess
loss, catastrophe or other insurance, upon a subject of
insurance resident, located or to be performed within this
State, other than insurance procured through a surplus lines
broker pursuant to the Surplus Line Insurance Law of this
State shall within [sixty (60)] 60 days after the date such
insurance was so procured, file a report of the same with
the Commissioner in writing and upon forms designated by the
Commissioner and furnished to such an insured upon request.
The report shall show the name and address of the insured or
insureds, name and address of the insurer, the subject of
the insurance, a general description of the coverage, the
amount of premium currently charged therefor, and such
additional pertinent information as is reasonably requested
by the Commissioner. THE TERM INSURED AS USED IN THIS
SUBJECT SUBSECTION INCLUDES ALL INDUSTRIAL INSUREDS WHO
PROCURE THE INSURANCE OF ANY RISK OR RISKS BY USE OF THE
SERVICE OF A FULL-TIME EMPLOYEE ACTING AS A RISK MANAGER.

211A.

The provisions of this subtitle shall not apply to the
following: