Maryland Code, INSURANCE 9-415
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Terms Used In Maryland Code, INSURANCE 9-415
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
(a) The Corporation is subject to examination and regulation by the Commissioner.
(b) By May 1 of each year, the Board of Directors shall submit to the Commissioner:
(1) a financial report for the preceding calendar year in the form that the Commissioner approves; and
(2) a report of its activities during the preceding calendar year.