§ 32-109
101 words·~1 min read·
/md/insurance/32-109A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§32–109.
(a)Subject to § 2–210 of this article, a carrier that, without just cause, fails to timely file an ORSA Summary Report as required by this title is subject to a penalty of $200 for each day the violation continues, up to a maximum of $25,000.
(b)The Commissioner may reduce the penalty under subsection
(a)of this section if the carrier demonstrates to the Commissioner that the imposition of the penalty would constitute a financial hardship to the carrier.
(c)This section does not limit the authority of the Commissioner to take any other action authorized by this article.