(a) In this subtitle the following words have the meanings indicated.
(b) “Fleet policy” means an insurance policy issued for a fleet of vehicles that provides coverage that is not based on a schedule of individual vehicles at the time the policy is issued.
(c) “Lapse” and “termination” mean a lapse or termination of required security, as defined in regulations adopted by the Administration.
(d) “Required security” means security in the form and providing for the minimum benefits required:
(1) For a vehicle registered in the State, under this subtitle or any other provisions of the Maryland Vehicle Law; or
(2) For a vehicle registered in another jurisdiction, under the laws of that jurisdiction.