Ch. 635                                    1995 LAWS OF MARYLAND

Article - Insurance

Section 10-101(c), 10-102(b), 10-112, 10-118(a), 10-121, 10-126, and 10-132

Annotated Code of Maryland

(As enacted by Chapter ___ (H. B. 11) of the Acts of the General Assembly of

1995)

BY adding to

Article - Insurance

Section 10-125.1

Annotated Code of Maryland

(As enacted by Chapter____ (H.B. 11) of the Acts of the General Assembly of

1995)

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

Article 48A - Insurance Code

55.

(1)     The Commissioner shall refuse to issue or to renew or shall revoke or suspend
an insurer's certificate of authority:

(i) If such action is required by any provision of this article; or

(ii) If the insurer no longer meets the requirements for the authority
originally granted, on account of deficiency in assets or otherwise; or

(iii) If the insurer is insolvent or fraudulently conducted, or its assets are not
sufficient for carrying on the business of the insurer; or

(iv) If the insurer fails to pay taxes on premiums as required under this
article; or

(v) If the insurer wilfully fails to furnish to the Commissioner required
information relating to all medical malpractice issued by the insurer in this State or any
other state.

(2)     The Commissioner may refuse to issue or after a hearing refuse to renew, or
may revoke or suspend an insurer's certificate of authority, in addition to other grounds
therefor in this article, if the insurer:

(i) Violates any provision of this article other than those as to which refusal,
suspension or revocation is mandatory.

(ii) Knowingly fails to comply with any lawful rule, regulation or order of the
Commissioner.

(iii) Is found by the Commissioner to be in unsound condition or in such
condition as to render its further transaction of insurance business hazardous to its
policyholders or to the public.

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