Chapter 03. Risk Retention Groups and Purchasing Groups—Fees
Regulation .01 Purpose.LinkCopy Citation
This chapter is promulgated to aid in the effectuation of Insurance Article, Title 25, Subtitle 1, Annotated Code of Maryland, and establishes reasonable fees to defray the costs incurred by the Insurance Administration in carrying out these requirements.
Regulation .02 Applicability.LinkCopy Citation
This chapter shall apply to all:
A.
Risk retention groups seeking to be chartered in this State;
B.
Risk retention groups chartered in a state other than this State and seeking to do business in this State; and
C.
Purchasing groups which intend to do business in this State.
Regulation .03 Registration Fees.LinkCopy Citation
A.
Domestic risk retention groups shall pay the following nonrefundable fees to the Commissioner:
(1)
Submission of plan of operation or feasibility study—$50;
(2)
Certificate of authority—$200;
(3)
Filing annual statement—$25;
(4)
Annual continuation of certificate of authority—$25.
B.
Foreign risk retention groups shall pay the following nonrefundable fees to the Commissioner:
(1)
Submission of plan of operation or feasibility study—$50;
(2)
Filing annual statement—$25.
C.
Purchasing groups shall pay to the Commissioner a nonrefundable registration fee of $100 upon submission of intent to do business in Maryland.
Chapter annotations
Authority: Insurance Article, §§2-109, 25-102, 25-103, and 25-106(c), Annotated Code of Maryland
History: Effective date: February 6, 1989 (16:2 Md. R. 158)
History: Chapter recodified from COMAR 09.30.78 to COMAR 31.06.03 effective September 7, 1998 (25:18 Md. R. 1439)