Code of Maryland Regulations (Last Updated: April 6, 2021) |
Title 11. Department of Transportation |
Subtitle 18. MOTOR VEHICLE ADMINISTRATION—FINANCIAL RESPONSIBILITY REQUIREMENTS |
Chapter 11.18.04. Reporting Requirements for Lapse or Termination of Required Security |
Sec. 11.18.04.02. Definitions
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A. In this chapter, the following terms have the meanings indicated.
B. Terms Defined.
(1) "Administration" means the Motor Vehicle Administration.
(2) Fleet policy has the meaning as stated in Transportation Article, §17-101, Annotated Code of Maryland.
(3) Immediately means by the close of business on the next business day.
(4) "Lapse or termination" means interruption of continuous coverage caused by the failure of an insurer to renew the security required by Transportation Article, §17-103(b), Annotated Code of Maryland.
(5) Policy means a vehicle policy or binder for required security as defined by §17-101(d), Annotated Code of Maryland, issued by an insurer or other provider of required security.