70

LAWS OF MARYLAND

Ch. 32

Section 140 and 204

Annotated Code of Maryland

(1980 Replacement Volume and 1983 Supplement)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the Laws of Maryland read as follows:

Article 48A - Insurance Code

61.

(1) When by or pursuant to the laws of any other state or
foreign country any taxes, licenses and other fees, in the
aggregate, and any fines, penalties, deposit requirements or
other material obligations, prohibitions or restrictions are or
would be imposed upon Maryland insurers, or upon the agents or
representatives of such insurers, which are in excess of such
taxes, licenses and other fees, in the aggregate, or which are in
excess of the fines, penalties, deposit requirements or other
obligations, prohibitions, or restrictions directly imposed upon
similar insurers, or upon the agents or representatives of such
insurers, of such other state or country under the statutes of
this State, so long as such laws of such other state or country
continue in force or are so applied, the same taxes, licenses and
other fees, in the aggregate, or fines, penalties or deposit
requirements or other material obligations, prohibitions, or
restrictions of whatever kind shall be imposed by the
Commissioner upon the insurers, or upon the agents or
representatives of such insurers, of such other state or country
doing business or seeking to do business in Maryland. Any tax,
license or other fee or other obligation imposed by any city,
county, or other political subdivision or agency of such other
state or country on Maryland insurers or their agents or
representatives shall be deemed to be imposed by such state or
country within the meaning of this section. ALL TAXES IMPOSED BY
THIS SECTION THAT ARE NOT PAID WITHIN 30 DAYS AFTER THE
COMMISSIONER ISSUES THE NOTICE OF THE AMOUNT DUE ARE SUBJECT TO A
PENALTY OF 5 PERCENT AND INTEREST AT THE RATE DETERMINED UNDER
ARTICLE 81, § 204 OF THE CODE FOR EACH MONTH FROM THE DATE OF THE
NOTICE THAT THE TAX WAS DUE.

Article 81 - Revenue and Taxes

140.

The total amount of the taxes imposed by this subtitle, as
the same shall appear from the face of the report herein required
to be filed, shall be paid to the Insurance Commissioner at the
time fixed for filing the report, after crediting the amount paid
with the declaration filed under § 138A. All taxes not paid when
the report or declaration is due to be filed shall be subject to
a penalty of five percent and interest at the rate [of one
percent per month] DETERMINED UNDER § 204 OF THIS ARTICLE from
the date the report was due. If additional amounts are found to