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Maryland Code, Insurance § 4-507

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(a) Subject to § 2-210 of this article, an insurer that fails to timely submit a CGAD to the Commissioner as required by this subtitle and without just cause is subject to a penalty of $200 for each day the violation continues, up to a maximum of $25,000.

(b) The Commissioner may reduce a penalty imposed on an insurer under subsection (a) of this section if the insurer demonstrates to the Commissioner that the imposition of the penalty would constitute a financial hardship to the insurer.

(c) This section does not limit the authority of the Commissioner to take any other action authorized by this article.

Cite this article: - Maryland Code, Insurance § 4-507 - last updated December 31, 2021 |

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