Md. Code, Insurance § 20-506
This is the official text of Md. Code, Insurance § 20-506, part of Maryland’s Code, Insurance — regulates insurance companies and the policies they sell.
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§20–506.
Official statutory text
(a) The Executive Director shall:
(1) establish and maintain reasonable and adequate reserves for payment of claims against the Fund; and
(2) use the same criteria as is required for use by an Association member in determining the amount of reserves that are necessary.
(b) At least annually, the Board of Trustees shall review the reasonableness and adequacy of reserves.
(1) establish and maintain reasonable and adequate reserves for payment of claims against the Fund; and
(2) use the same criteria as is required for use by an Association member in determining the amount of reserves that are necessary.
(b) At least annually, the Board of Trustees shall review the reasonableness and adequacy of reserves.
Status: in_force · Read it on the official government site
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