Md. Code, Ins. § 20-514
Md. Code, Ins. § 20-514
Maryland · Maryland Code, Insurance · Status: effective
Cite this
- Citation
- Md. Code, Ins. § 20-514, Maryland, version 1 as recorded 2026-09-29, yourstate.us, https://yourstate.us/provision/1780004
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Full text
(a) Except as provided in subsection (b) of this section, the Fund shall give prior written notice to a fund producer of its intended action under § 20–513 of this subtitle and give the fund producer an opportunity for a hearing before taking the action.
(b) (1) The Fund may exercise immediately any option under § 20–513 of this subtitle if the Fund determines that there is a likelihood of substantial and immediate harm to the Fund, its policyholders, or others because of:
(i) a violation of a policy adopted by the Board of Trustees that relates to the binding of coverage; or
(ii) a failure to pay money owed.
(2) After taking an action under § 20–513 of this subtitle, the Fund promptly shall give notice to the fund producer and hold a hearing within 10 working days before a member of the Board of Trustees.
(c) The Board of Trustees shall adopt policies to provide procedures for notice and hearings under this section.