§ 32–109
Statutes in effect as of October 1, 2026.
Md. Code Ann., Ins. § 32-109 (2026)
Title 32. Risk Management and Own Risk and Solvency Assessment Act
Subtitle 1
§ 32–109LinkCopy Citation
(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.