{"data":{"id":"us-md/md.-code-insurance-24-306","jurisdiction":"us-md","citation":"Md. Code, Insurance § 24–306","heading":"","body":"(a) The Company:\n(1) shall be an authorized insurer; and\n(2) on and after October 1, 2013, as a condition of being an authorized insurer, shall be the workers’ compensation insurer of last resort for employers covered under Title 9 of the Labor and Employment Article.\n(b) Before October 1, 2013, the Fund shall serve as the workers’ compensation insurer of last resort for workers’ compensation insurance and as a competitive workers’ compensation insurer under the same terms and conditions as the Fund served before October 1, 2012.\n(c) The Company may not cancel or refuse to renew or issue a policy except for:\n(1) nonpayment of a premium for current or prior policies issued by the Fund or the Company;\n(2) failure to provide payroll information to the Fund or the Company;\n(3) failure to cooperate in any payroll audit conducted by the Fund or the Company; or\n(4) failure to reimburse the Company under a policy with deductibles as required under § 19–404 of this article.\n(d) The Company may engage only in the business of workers’ compensation insurance in accordance with State law.\n(e) Subject to the requirements of Title 7 of this article, the Company may establish, own, or acquire a subsidiary for any lawful purpose if the subsidiary:\n(1) is, or after acquisition will be, wholly owned by the Company;\n(2) engages in a business activity that is ancillary to the workers’ compensation insurance business; and\n(3) is operated for the purpose of benefiting the Company.","path":["Article - Insurance"],"source_url":"https://mgaleg.maryland.gov/mgawebsite/Laws/StatuteText?article=gin\u0026section=24-306","current_through":"2026-01-01","vintage":"","retrieved_at":"2026-09-14T19:59:28Z","sha256":"c3c0b2554fce86b9a0c9a6e30cd295aeebcd5366ac1a9dc1ba770a63017827d3","source_id":"us-md","stale":false,"prev":"us-md/md.-code-insurance-24-304","next":"us-md/md.-code-insurance-24-307"},"notice":"GroundRules: Original legal text. Not legal advice."}