{"data":{"id":"us-md/md.-code-insurance-7-607","jurisdiction":"us-md","citation":"Md. Code, Insurance § 7–607","heading":"","body":"(a) Failure to file the registration statement, summary, or enterprise risk report required by this subtitle in the time specified in this subtitle is a violation of this title.\n(b) (1) An insurer that does not file a registration statement or summary required under § 7–603(a) of this subtitle on or before May 1 or the date the Commissioner sets in accordance with § 7–602(b) of this subtitle, may be subject to a penalty of up to:\n(i) $500 for each day from May 1 through May 10;\n(ii) $1,000 for each day from May 11 through May 31; and\n(iii) $5,000 for each day after May 31.\n(2) In determining the amount of any financial penalty to be imposed under this section, the Commissioner shall consider the following factors:\n(i) the seriousness of the violation;\n(ii) the good faith of the violator;\n(iii) the violator’s history of previous violations;\n(iv) the deleterious effect of the violation on the public and the insurance industry; and\n(v) the assets of the violator.","path":["Article - Insurance"],"source_url":"https://mgaleg.maryland.gov/mgawebsite/Laws/StatuteText?article=gin\u0026section=7-607","current_through":"2026-01-01","vintage":"","retrieved_at":"2026-09-14T19:59:28Z","sha256":"6699584e35286fb2b743c01eefbc71a98acf3e407e66facb41f4f2d7964956c7","source_id":"us-md","stale":false,"prev":"us-md/md.-code-insurance-7-606","next":"us-md/md.-code-insurance-7-608"},"notice":"GroundRules: Original legal text. Not legal advice."}