Md. Code Regs. 31.10.50.05

Current through Register Vol. 51, No. 22, November 1, 2024

Section 31.10.50.05 - Use of Noncompliant Contract or Amendment

A. If a PSAO uses a contract or amendment that becomes effective and the contract or amendment is subsequently found by the Commissioner to be noncompliant, the Commissioner may:

(1) Issue an order that:

(a) Gives notice of the disapproval;

(b) States a reason for the disapproval; and

(c) States the effective date of the disapproval in the notice; and

(2) Impose a civil penalty as provided under Insurance Article, § 15-2019, Annotated Code of Maryland.

B. An order under this regulation is subject to a hearing under Insurance Article, § 2-210, Annotated Code of Maryland.

C. A request for a hearing under this regulation does not stay that portion of the order that requires a PSAO to cease and desist from the conduct identified in the order.

Md. Code Regs. 31.10.50.05

Regulation .05 adopted effective 49:26 Md. R. 1081, eff. 12/26/2022