Maryland § 3-222
Full text of Maryland Maryland Code § 3-222, with citation guidance and answers to common questions.
§ 3-222.
(a) If the assets of a reciprocal insurer at any time are insufficient to maintain the required surplus and to discharge its liabilities, other than a liability on account of money contributed by the attorney in fact or another person, the attorney in fact of a reciprocal insurer immediately shall:
(1) make up the deficiency; or
(2) subject to the limitations set forth in the power of attorney or subscribers’ policies, levy an assessment on the subscribers for the amount needed to cure the deficiency.
(b) A reciprocal insurer is considered insolvent and shall be proceeded against as authorized by this article if:
(1) the attorney in fact fails to cure the deficiency or to make the assessment within 30 days after the Commissioner orders the attorney in fact to do so; or
(2) the deficiency is not cured fully within 60 days after the date the assessment was made.
(c) If liquidation of a reciprocal insurer is ordered, an assessment shall be levied on the subscribers in the amount, subject to the limits provided by this subtitle, that the Commissioner determines to be necessary to discharge all liabilities of the reciprocal insurer, excluding any money contributed by the attorney in fact or another person, but including the reasonable cost of the liquidation.
Frequently Asked Questions About Maryland § 3-222
What does Maryland Code § 3-222 cover?
Section 3-222 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 § 3-222?
A common citation format is "Maryland Code § 3-222" (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 § 3-222 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.