Maryland § 20-407
Full text of Maryland Maryland Code § 20-407, with citation guidance and answers to common questions.
§ 20-407.
(a) On or before June 30 of each year, each Association member shall elect whether to recoup its share of the assessment for the immediately preceding year by imposing an assessment surcharge, where appropriate, on each of the Association member’s commercial auto policyholders or private passenger auto policyholders, or both.
(b) An Association member that does not elect on or before June 30 to recoup its share of an assessment is considered to have recouped that assessment and to have waived its option to impose an assessment surcharge on its policyholders.
(c) (1) This section does not deny an Association member the right to:
(i) absorb an annual assessment; or
(ii) recover all or part of an annual assessment as costs in rate filings made under this article.
(2) An Association member that recovers assessments as costs in rate filings shall identify the assessment on any premium billing to the policyholder.
Frequently Asked Questions About Maryland § 20-407
What does Maryland Code § 20-407 cover?
Section 20-407 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 § 20-407?
A common citation format is "Maryland Code § 20-407" (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 § 20-407 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.