Maryland § 25-408
Full text of Maryland Maryland Code § 25-408, with citation guidance and answers to common questions.
§ 25-408.
(a) The Commissioner shall have the same powers over the Association as are granted under this article with respect to domestic insurers that are authorized insurers.
(b) If the Commissioner determines that the rate structure for policies of essential property insurance and homeowner’s insurance offered by or through the Association does not compete with the rate structure of the voluntary insurance market in the State, the Commissioner shall approve the rate structure.
(c) (1) The Commissioner shall monitor and review the financial condition of Association members to ensure that the Association members are able to pay assessments that the Association may levy on them.
(2) The Commissioner may use the annual statements of Association members and other available data to monitor and review their financial condition.
Frequently Asked Questions About Maryland § 25-408
What does Maryland Code § 25-408 cover?
Section 25-408 is part of the Maryland Code, the codified statutory law of Maryland. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Maryland § 25-408?
A common citation format is "Maryland Code § 25-408" (Maryland). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Maryland law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Maryland official source linked on this page or consult a licensed Maryland attorney.
How does Maryland § 25-408 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Maryland can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Maryland.