Maryland § 5-1003
Full text of Maryland Maryland Code § 5-1003, with citation guidance and answers to common questions.
§ 5-1003.
(a) (1) Subject to § 5-1004 of this subtitle and except as provided under § 5-1005 of this subtitle, an insurer may not retain a risk on any one subject of insurance, whether located or to be performed in the State or outside of the State, in an amount exceeding 10% of the insurer’s surplus to policyholders.
(2) An insurer’s surplus to policyholders shall be determined at the time a risk is assumed from the more recent of:
(i) the last sworn statement of the insurer on file with the Commissioner; or
(ii) the last examination report of the insurer.
(b) In determining the amount of risk retained by an insurer, a deduction shall be made for reinsurance ceded by the insurer for which credit is allowed under § 5-904 of this title.
Frequently Asked Questions About Maryland § 5-1003
What does Maryland Code § 5-1003 cover?
Section 5-1003 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 § 5-1003?
A common citation format is "Maryland Code § 5-1003" (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 § 5-1003 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.