Section 24-306 - Authorized insurer(a) The Company: (1) shall be an authorized insurer; and(2) on and after October 1, 2013, as a condition of being an authorized insurer, shall be the workers' compensation insurer of last resort for employers covered under Title 9 of the Labor and Employment Article.(b) Before October 1, 2013, the Fund shall serve as the workers' compensation insurer of last resort for workers' compensation insurance and as a competitive workers' compensation insurer under the same terms and conditions as the Fund served before October 1, 2012.(c) The Company may not cancel or refuse to renew or issue a policy except for: (1) nonpayment of a premium for current or prior policies issued by the Fund or the Company;(2) failure to provide payroll information to the Fund or the Company;(3) failure to cooperate in any payroll audit conducted by the Fund or the Company; or(4) failure to reimburse the Company under a policy with deductibles as required under § 19-404 of this article.(d) The Company may engage only in the business of workers' compensation insurance in accordance with State law.(e) Subject to the requirements of Title 7 of this article, the Company may establish, own, or acquire a subsidiary for any lawful purpose if the subsidiary:(1) is, or after acquisition will be, wholly owned by the Company;(2) engages in a business activity that is ancillary to the workers' compensation insurance business; and(3) is operated for the purpose of benefiting the Company.Amended by 2015 Md. Laws, Ch. 36,Sec. 1, eff. 10/1/2015.Amended by 2014 Md. Laws, Ch. 4,Sec. 1, eff. 4/8/2014.