Md. Code, Insurance § 20-514
This is the official text of Md. Code, Insurance § 20-514, part of Maryland’s Code, Insurance — regulates insurance companies and the policies they sell.
Not legal advice. This page reproduces the official text of a government statute for reference only. Laws change, and how a statute applies depends on your specific facts. For advice about your situation, consult a licensed attorney in your state.
§20–514.
Official statutory 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.
(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.
Status: in_force · Read it on the official government site
Need a lawyer in Maryland?
Find a Maryland lawyer
About this page: Statute text is reproduced from official government publishers via the
Open US Law dataset
(Vaquill AI, snapshot v2026.08, CC BY 4.0). Primary legislative text like this is public domain under the government-edicts doctrine
(Georgia v. Public.Resource.Org, 2020). We link every section back to its official source so you can verify it independently.