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PARRIS N. GLENDENING, Governor
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Ch. 286
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SECTION 2. 4. AND BE IT FURTHER ENACTED, That this Act shall take
effect July 1, 2002. Section 1 of this Act shall remain in effect for a period of 1 year
and 6 months and, at the end of December 31, 2003, with no further action required
by the General Assembly, Section 1 of this Act shall be abrogated and of no further
force and effect.
Approved April 25, 2002.
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CHAPTER 286
(House Bill 1456)
AN ACT concerning
Insurance - Certificate of Authority - Penalties
FOR the purpose of altering the penalties for an insurer who fails to renew its
certificate of authority by a certain date; authorizing the Insurance
Commissioner to determine the amount of certain penalties or forfeitures;
requiring the Commissioner to consider certain factors in making that
determination; making this Act an emergency measure; and generally relating
to insurers and certificates of authority.
BY repealing and reenacting, with amendments,
Article — Insurance
Section 4-112
Annotated Code of Maryland
(1997 Volume and 2001 Supplement)
SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the Laws of Maryland read as follows:
Article - Insurance
4-112.
(a) A certificate of authority expires on the first June 30 after its effective date
unless it is renewed as provided in this section.
(b) At least 2 months before a certificate of authority expires, the
Commissioner shall mail to the holder of the certificate of authority, at the last known
address of the holder:
(1) a renewal application form; and
(2) a notice that states:
(i) the date on which the current certificate of authority expires;
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- 2151 -
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