PARRIS N. GLENDENING, Governor

Ch. 456

(2) AT LEAST 3 2 MONTHS BEFORE A CERTIFICATE OF AUTHORITY
EXPIRES, THE COMMISSIONER SHALL SEND TO EACH INSURER HOLDING A
CERTIFICATE OF AUTHORITY UNDER THIS ARTICLE AN APPLICATION TO RENEW
THE CERTIFICATE OF AUTHORITY.

(B) (1) UNTIL THE INSURER HAS FILED AN INSURER SHALL MAIL A
COMPLETE RENEWAL APPLICATION AND THE ANNUAL CONTINUATION FEE
PROVIDED IN § 41- ON OR BEFORE JUNE 1 JUNE 30. AN INSURER THAT FAILS TO
RENEW ITS CERTIFICATE OF AUTHORITY ON OR BEFORE JUNE 30 DO SO RENEW ITS
CERTIFICATE OF AUTHORITY ON OR BEFORE JUNE 30 SHALL FORFEIT:

(1) (I) $100 $500 FOR EACH DAY FROM JULY 1 THROUGH JULY 10 JUNE
2 THROUGH JUNE 10; AND JULY 1 THROUGH JULY 10;

(2)     (II) $500 $1,000 FOR EACH DAY FROM JULY 11 THROUGH JULY 31;
AND JUNE 11 THROUGH JUNE 30. JULY 11 THROUGH JULY 31; AND

(3)     $1,000 FOR EACH DAY AFTER JULY 31.

(2) AN INSURER THAT FAILS TO RENEW ITS CERTIFICATE OF
AUTHORITY ON OR BEFORE JUNE 30 SHALL FORFEIT:

(I) (III) $1,000 $5,000 FOR EACH DAY FROM JULY 1 THROUGH JULY
5; AND AFTER JULY 31.

(II) $5,000 FOR EACH DAY AFTER JULY 5.

(2) IN ADDITION TO THE PROVISIONS IMPOSED UNDER PARAGRAPH (1) OF
THIS SUBSECTION, AN INSURER THAT FAILS TO RENEW ITS CERTIFICATE OF AUTHORITY
ON OR BEFORE JUNE 30 IN THE PREVIOUS YEAR SHALL:

(I) RENEW ITS CERTIFICATE OF AUTHORITY ON OR BEFORE JUNE 1
OF THE CURRENT YEAR; AND

(II) FORFEIT $3,000 IF THE INSURER FAILS TO RENEW ITS CERTIFICATE
OF AUTHORITY ON OR BEFORE JUNE 30 IN THE CURRENT YEAR

(3) IN ADDITION TO THE MONETARY PENALTIES IMPOSED UNDER THIS
SUBSECTION, ON JULY 1 OF EACH YEAR, FOR EACH INSURER THAT FAILS TO FILE ITS
RENEWAL APPLICATION AND CONTINUATION FEE ON OR BEFORE JUNE 30, THE
COMMISSIONER SHALL MAY:

(I) ORDER THAT THE INSURER CEASE AND DESIST FROM
ENGAGING FURTHER FROM THE WRITING OF INSURANCE IN THIS STATE IN
ACCORDANCE WITH § 55 OF THIS ARTICLE; OR

(II) ISSUE AN ORDER TO REQUIRE THE INSURER TO SHOW CAUSE
WHY IT SHOULD BE ALLOWED TO CONTINUE TO ENGAGE IN THE INSURANCE
BUSINESS IN THE STATE

SECTION 3. AND BE IT FURTHER ENACTED, That the Laws of Maryland
read as follows:

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