Insurance Guaranty and Related Funds

What this document is

Maryland Insurance Article Title 20 - Insurance Guaranty and Related Funds is a state statute published by Maryland General Assembly, Department of Legislative Services (mgaleg.maryland.gov). It is one of the Maryland documents that insurance license exam questions are written from, including maryland property & casualty practice questions. This page summarizes it and points to the official version, which is the text to rely on.

Sections cited in practice questions

Each practice answer shows the exact passage it comes from. These are sections of this document that questions cite, with a short excerpt from the source text.

• Md. Code Ann., Ins. § 20-302(c) (Fund Obligations Not a State Debt)

  “The debts and obligations of the Fund are not a debt of the State or a pledge of the credit of the State.”

• Md. Code Ann., Ins. § 20-520(c) (Rating of Person Previously Insured by the Fund)

  “A person who is entitled to insurance under subsection (a) of this section: (1) shall be rated by the insurer in the same manner as any other policyholder not previously insured by the Fund having the same risk characteristics; and (2) may not be surcharged or rated by the insurer solely because...”

• Md. Code Ann., Ins. § 20-512(a)(1) (Fund Producer Commission; Private Passenger Auto Insurance)

  “(a) Except as provided in subsection (b) of this section, the Fund shall pay to a fund producer of a policyholder to whom a policy is issued a commission: (1) for private passenger auto insurance issued by the Fund, at a rate determined by the Fund but not less than 10% and not to exceed 15% of the total premium; and”

• Md. Code Ann., Ins. § 20-504(d)(1)(ii) (Add-On Coverage Limit per Covered Vehicle)

  “(ii) sell add–on coverage or any combination of add–on coverages in an amount that exceeds $200 per covered vehicle in connection with a private passenger auto insurance policy.”

• Md. Code Ann., Ins. § 20-502(a)(3) (Fund Eligibility; Alternative Conditions)

  “(3) that: (i) has attempted in good faith to obtain a policy that provides the security required under § 17–103 of the Transportation Article from at least two Association members and has been rejected or refused the policy by two Association members for any reason other than nonpayment of...”

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Questions about this source

More Maryland sources

• Md. Code, Insurance s. 10-104 - License required; insurance producerState statute
• Md. Code, Insurance s. 10-126 - Grounds for denial, suspension, or revocation of licenseState statute
• Md. Code, Insurance s. 27-208 - Unfair discrimination between individuals of the same class in life rates, dividends and benefitsState statute
• Md. Code, Insurance s. 27-209 - Prohibited inducements and rebates not specified in the contractState statute
• Md. Code, Insurance s. 27-216 - Rebating and inducements; willful collection of excess premiumState statute
• Md. Code, Insurance s. 27-405 - Fraudulent insurance act: acting without a licence or certificationState statute
• Maryland Insurance Article Title 10 - Insurance Producers and Other Insurance Professionals (103 sections)State statute
• Maryland Insurance Article Title 15 - Health Insurance, first half (Secs. 15-101 through 15-815)State statute