Section 3-318 - Approval of surplus lines insurer. - Maryland Statutes

§ 3-318. Approval of surplus lines insurer.
 

(a)  In general.- An insurer may not be approved as a surplus lines insurer until the insurer files each year with the Commissioner: 

(1) a written request for approval as a surplus lines insurer for those surplus lines authorized by the Commissioner; 

(2) a certified copy of its annual statement, on convention form, that shows the amount by line of surplus lines business written on risks located in the State during the period covered by the annual statement; 

(3) a certificate of compliance issued by the insurance department of the insurer's state of domicile; and 

(4) a certificate evidencing a deposit issued by the official custodian of deposits of the insurer's state of domicile. 

(b)  Service of process.- An unauthorized insurer shall appoint in writing the Commissioner as agent for the acceptance of service of process. 
 

[An. Code 1957, art. 48A, §§ 190, 197; 1995, ch. 36.]