Stephanie Smith voted Yea (Passage) on this Legislation.
Title: Establishes Violations for Unauthorized Insurers
Vote to pass a bill that establishes violations for unauthorized insurers or violators of the State insurance law in Maryland.
Establishes violations for unauthorized insurers or violators of the State insurance law in Maryland (Sec. 1).
Increases penalties for unauthorized insurers from $50,000 to $125,000 for each violation found and $500 to $5,000 for each violation associated with revocation of licenses (Sec. 1).
Specifies that the provisions of this bill shall take effect October 1, 2024 (Sec. 2).
Title: Establishes Violations for Unauthorized Insurers