A specific security provided to a ceding insurer by an assuming insurer pursuant to Regulation .14 of this chapter shall be applied, until exhausted, to the payment of liabilities of the assuming insurer to the ceding insurer holding the specific security prior to, and as a condition precedent for, presentation of a claim by the ceding insurer for payment by a trustee of a trust established by the assuming insurer pursuant to Regulations .08—.10 of this chapter.

Authority: Insurance Article, §§1-101(jj), 2-109, 2-205, 2-209, and 5-901—5-917, Annotated Code of Maryland

Effective date:

Regulations .01—.08 adopted as an emergency provision effective June 17, 1993 (20:14 Md. R. 1164); adopted permanently effective October 11, 1993 (20:20 Md. R. 1571)

Regulations .02B and .08F amended, and Regulations .09—.17 adopted, as an emergency provision effective December 19, 1997 (25:2 Md. R. 73); adopted permanently effective June 15, 1998 (25:12 Md. R. 947)

Chapter recodified from COMAR 09.30.97 to COMAR 31.05.08 effective September 7, 1998 (25:18 Md. R. 1439)

Regulations .01—.17 repealed and new Regulations .01—.24 adopted effective June 5, 2006 (33:11 Md. R. 953)

Chapter revised effective August 18, 2014 (41:16 Md. R. 947)

Regulation .02B amended effective October 1, 2022 (49:19 Md. R. 868)

Regulation .24 amended effective July 1, 2021 (48:13 Md. R. 510)

Regulation .28D amended effective December 11, 2023 (50:24 Md. R. 1043)

Regulation .29 adopted effective October 1, 2022 (49:19 Md. R. 868)