Maryland § 3-220
Full text of Maryland Maryland Code § 3-220, with citation guidance and answers to common questions.
§ 3-220.
(a) This section does not apply to bank loans or to loans for which security is given.
(b) The attorney in fact of a domestic reciprocal insurer or another person may advance to the reciprocal insurer on reasonable terms any money that the reciprocal insurer requires periodically in its operations.
(c) (1) The money advanced to a reciprocal insurer:
(i) may not be treated as a liability of the reciprocal insurer; and
(ii) except on liquidation of the reciprocal insurer, may be withdrawn or repaid only out of the reciprocal insurer's realized earned surplus in excess of its minimum required surplus.
(2) A withdrawal or repayment may be made only with the previous approval of the Commissioner.
Frequently Asked Questions About Maryland § 3-220
What does Maryland Code § 3-220 cover?
Section 3-220 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 § 3-220?
A common citation format is "Maryland Code § 3-220" (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 § 3-220 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.