Maryland legislation · 2026 Regular Session
Maryland SB637: Maryland Automobile Insurance Fund - Fund Producer Commission Rate
Status: Signed into law, May 26, 2026
Altering the minimum commission rate from 10% to 5% of the total premium that the Maryland Automobile Insurance Fund is required to pay to a fund producer of a policyholder to whom a policy is issued for private passenger auto insurance; and prohibiting the Fund from paying a commission to a fund producer for a policy written directly by the Fund without the involvement of a fund producer.
What the bill says
An act concerning Maryland Automobile Insurance Fund - Fund Producer Minimum Commission Rate - Repeal FOR the purpose of repealing altering the minimum commission rate that the Maryland Automobile Insurance Fund is required to pay to a fund producer of a policyholder to whom a policy is issued for private passenger auto insurance; prohibiting the Fund from paying a commission to a fund producer for a policy written directly by the Fund without the involvement of a fund producer; and generally relating to the Maryland Automobile Insurance Fund…
From the enrolled text, June 3, 2026:
AN ACT concerning Maryland Automobile Insurance Fund - Fund Producer Minimum Commission Rate - Repeal FOR the purpose of repealing altering the minimum commission rate that the Maryland Automobile Insurance Fund is required to pay to a fund producer of a policyholder to whom a policy is issued for private passenger auto insurance; prohibiting the Fund from paying a commission to a fund producer for a policy written directly by the Fund without the involvement of a fund producer; and generally relating to the Maryland Automobile Insurance Fund. BY repealing and reenacting, with amendments, Article - Insurance Section 20-512 Annotated Code of Maryland (2017 Replacement Volume and 2025 Supplement) SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF MARYLAND, That the Laws of Maryland read as follows: Article - Insurance 20-512. (a) Except as provided in subsection (b) of this section, the Fund shall pay to a fund producer of a policyholder to whom a policy is issued a commission: (1) for private passenger auto insurance issued by the Fund, at a rate determined by the Fund but [not less than 10% 5% and] not to exceed 15% of the total premium; and (2) for any other insurance issued by the Fund, at a rate determined by the Fund but not to exceed 10% of the total premium. (b) …