1. (1) to provide a mechanism for the prompt payment of covered claims under certain policies and to avoid financial loss to residents of the State who are claimants or policyholders of an insolvent insurer; and
2. (2) to provide for the assessment of the cost of payments of covered claims and protection among insurers.

The purposes of this subtitle are:

Added by Acts 1996, c. 11, § 1, eff. Oct. 1, 1997.

Formerly Art. 48A, § 504.