(a)      (1)      Except as provided in paragraph (2) of this subsection, a demand for a hearing stays an order of the Commissioner pending the hearing and an order resulting from it if the Commissioner receives the demand:

                  (i)      before the effective date of the order; or

                  (ii)      within 10 days after the order is served.

            (2)      Paragraph (1) of this subsection does not apply to an action taken or proposed under an order:

                  (i)      resulting from a hearing;

                  (ii)      resulting from a final decision of the Insurance Commissioner on a complaint in an emergency case under § 15-10A-04 of this article; or

                  (iii)      based on impairment of assets or unsound financial condition of an insurer.

      (b)      If the Commissioner does not grant a written request for a stay, the aggrieved person may apply to the Circuit Court for Baltimore City for a stay of the proposed action of the Commissioner.