# Md. Code, Insurance § 7-607: –607

> Maryland · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_MD_Agin_T7_S6_S7-607

## Section

- **Citation:** Md. Code, Insurance § 7-607
- **Heading:** –607
- **Jurisdiction:** Maryland
- **Kind:** Statutes
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** MD Code / Article gin / Title 7 / Subtitle 6 / Section 7-607

## Text

(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.

(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:

(i) $500 for each day from May 1 through May 10;

(ii) $1,000 for each day from May 11 through May 31; and

(iii) $5,000 for each day after May 31.

(2) In determining the amount of any financial penalty to be imposed under this section, the Commissioner shall consider the following factors:

(i) the seriousness of the violation;

(ii) the good faith of the violator;

(iii) the violator’s history of previous violations;

(iv) the deleterious effect of the violation on the public and the insurance industry; and

(v) the assets of the violator.

## Nearby sections

- [Md. Code, Insurance § 7-601 §7–601.](https://www.frixlaw.com/law-library/statutes/STATE_MD_Agin_T7_S6_S7-601.md)
- [Md. Code, Insurance § 7-602 §7–602.](https://www.frixlaw.com/law-library/statutes/STATE_MD_Agin_T7_S6_S7-602.md)
- [Md. Code, Insurance § 7-603 §7–603.](https://www.frixlaw.com/law-library/statutes/STATE_MD_Agin_T7_S6_S7-603.md)
- [Md. Code, Insurance § 7-604 §7–604.](https://www.frixlaw.com/law-library/statutes/STATE_MD_Agin_T7_S6_S7-604.md)
- [Md. Code, Insurance § 7-605 §7–605.](https://www.frixlaw.com/law-library/statutes/STATE_MD_Agin_T7_S6_S7-605.md)
- [Md. Code, Insurance § 7-606 §7–606.](https://www.frixlaw.com/law-library/statutes/STATE_MD_Agin_T7_S6_S7-606.md)
- [Md. Code, Insurance § 7-607 §7–607.](https://www.frixlaw.com/law-library/statutes/STATE_MD_Agin_T7_S6_S7-607.md)
- [Md. Code, Insurance § 7-608 §7–608.](https://www.frixlaw.com/law-library/statutes/STATE_MD_Agin_T7_S6_S7-608.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_MD_Agin_T7_S6_S7-607. Check the current official text before relying on it. Not legal advice.