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Maryland Code, Insurance § 27-702

Current as of January 01, 2025 | Updated by Findlaw Staff

(a)(1) The General Assembly declares that it is in the interest of citizens of the State who buy insurance from unauthorized insurers that solicit business in the State by placing in or sending into the State false advertising designed to induce residents of the State to buy insurance from them, that those unauthorized insurers be subject to this subtitle.

(2) The purpose of this subtitle is to subject to the jurisdiction of the Commissioner and the courts of the State those unauthorized insurers described in paragraph (1) of this subsection.

(3) In furtherance of this State interest, the General Assembly provides a method of substituted service of process on those unauthorized insurers described in paragraph (1) of this subsection.

(4) The General Assembly declares that by enacting this subtitle, the General Assembly is exercising:

(i) its power to protect the residents of the State; and

(ii) its powers and privileges under the McCarran-Ferguson Act, 15 U.S.C. §§ 1011 through 1015.

(b) The authority provided in this subtitle is in addition to any other powers of the State.

(c) This subtitle shall be construed liberally.

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Cite this article: FindLaw.com - Maryland Code, Insurance § 27-702 - last updated January 01, 2025 | https://codes.findlaw.com/md/insurance/md-code-insurance-sect-27-702/

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