§ 19-403. Setting premium rates

Latest version.

   (a) Action by Commissioner. -- The Commissioner may:

   (1) determine whether the premium rates of an insurer adequately cover the risks applicable to a workers' compensation insurance policy under Titles 9 and 10 of the Labor and Employment Article; and

   (2) require the insurer to set premium rates that are adequate to cover those risks.

(b) Action by insurer. -- Each insurer shall set premium rates for workers' compensation insurance in accordance with the requirements of the Commissioner under subsection (a) of this section.

(c) Penalty. --

   (1) A person that violates subsection (b) of this section is guilty of a misdemeanor and on conviction is subject to a fine not exceeding $ 1,000.

   (2) The Commissioner may revoke the certificate of authority of a person that is convicted under this section.

HISTORY: An. Code 1957, art. 48A, § 482F; 1996, ch. 11.

                    
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