Current with changes from the 2024 Legislative Session
Section 19-305 - Antiarson application form(a)(1) The Commissioner shall adopt a two-tier antiarson application form that requires an applicant to complete a second-tier supplementary application if the initial first-tier application elicits certain predesignated answers.(2) In adopting the antiarson application form, the Commissioner shall consider generally recognized two-tier application forms.(b) An antiarson application shall include: (1) the name and address of the applicant, any mortgagee, and any other party with an ownership interest in the property to be insured;(2) the amount of insurance requested and the method of valuation used to establish that amount;(3) the dates and selling prices of the property to be insured in all real estate transactions involving the property during the 3-year period immediately preceding the date of the antiarson application;(4) the applicant's history of losses during the 5-year period immediately preceding the date of the antiarson application with regard to any property: (i) in which the applicant held an interest, including a partnership or mortgage interest, that is substantial; and(ii) that sustained a fire loss exceeding 25% of the insured value;(5) all taxes that are unpaid or overdue for 1 or more years; and(6) the present occupancy of the property to be insured.