Md. Code Regs. 31.05.08.07

Current through Register Vol. 51, No. 22, November 1, 2024

Section 31.05.08.07 - Suspension or Revocation of Accreditation

Contracts not qualifying for credit after suspension or revocation beyond secured obligations:

A. While a reinsurer's accreditation or certification is suspended, a reinsurance contract issued or renewed after the effective date of the suspension does not qualify for credit except to the extent the reinsurer's obligations under the contract are secured in accordance with Insurance Article, § 5-914, Annotated Code of Maryland.

B. If a reinsurer's accreditation or certification is revoked, credit for reinsurance may not be granted after the effective date of the revocation except to the extent that the reinsurer's obligations under the contract are secured in accordance with Insurance Article, § 5-911 or 5-914, Annotated Code of Maryland.

Md. Code Regs. 31.05.08.07

Regulations .07 adopted as an emergency provision effective June 17, 1993 (20:14 Md. R. 1164); adopted permanently effective October 11, 1993 (20:20 Md. R. 1571)
Regulations .07 adopted effective June 5, 2006 (33:11 Md. R. 953)