Marvin Mandel, Governor                           295

ACCRUING THEREFROM SHALL BE AVAILABLE SOLELY
FOR PAYMENT OF CLAIMS ARISING UNDER POLICIES
ISSUED BY THE FUND AND FOR ADMINISTRATIVE
EXPENSES FAIRLY APPORTIONED TO THE ISSUANCE
OF SUCH POLICIES AND THE PROCESSING AND PAY-
MENT OF CLAIMS THEREUNDER. UPON RECOMMEN-
DATION OF THE EXECUTIVE DIRECTOR, THE BOARD
OF TRUSTEES, WITH THE APPROVAL OF THE BOARD
OF PUBLIC WORKS, MAY PERMIT THE TEMPORARY
USE OF FUNDS COLLECTED PURSUANT TO SUBSEC-
TION (B) AND NOT NEEDED FOR THE PAYMENT OF
CLAIMS ARISING UNDER SECTION 243H OR ADMINISTRA-
TIVE COSTS FAIRLY APPORTIONED THERETO, FOR OTHER
PURPOSES; PROVIDED, HOWEVER, THAT ANY SUCH FUNDS
SO TRANSFERRED SHALL BE REPAID WITHIN ONE YEAR,
AND THE BOARD SHALL PROMPTLY SEEK AN ADJUST-
MENT IN PREMIUM SCHEDULES OR MAKE SUCH OTHER
FINANCIAL ADJUSTMENTS AS WILL ENABLE IT TO REPAY
THE FUNDS WITHIN ONE YEAR.

243B. Writing of Automobile Liability Insurance.

(a)    Subject to the provisions of this subtitle generally and Sec-
tion 243D hereof in particular, the Fund is authorized and shall
sell, issue, and deliver, upon payment of the premium set by the
Fund, a policy of automobile liability insurance to any Maryland
resident who owns an automobile validly registered with the Motor
Vehicle Administrator, or has a valid license to operate an auto-
mobile issued by the Motor Vehicle Administrator, and who either
(i) has in good faith attempted to obtain a policy of automobile
liability insurance from at least two private insurers authorized to
write such a policy in this State and has been rejected or refused
such a policy by two such private insurers for any reason other than
non payment of premiums, or (ii) who has had a policy of automobile
liability insurance cancelled or non renewed FOR ANY REASON
OTHER THAN NON-PAYMENT OF PREMIUMS, by a private
insurer authorized to write such a policy in this State.

(b)    The policy issued by the Fund shall contain the minimum
coverages required by Sections 539 through 543 542, inclusive, of this
article, and may contain such other provisions as may be determined
by the Executive Director and approved by the Board of Trustees of
the Fund and the Commissioner of Insurance.

(C) THE FUND SHALL PAY A COMMISSION, NOT TO EX-
CEED 10% OF THE PREMIUMS, TO THE AGENT OR BROKER
OF A POLICYHOLDER TO WHOM A POLICY OF INSURANCE
IS ISSUED OR RENEWED BY THE FUND.

(D)(1) ANY AGENT OR BROKER LICENSED IN MARY-
LAND MAY, SUBJECT TO THE PROVISIONS OF THIS SEC-
TION, BIND THE MINIMUM REQUIRED COVERAGE FOR AN
APPLICANT IN THE FUND UPON APPLICATION TO THE
AGENT OR BROKER AND PAYMENT OF THE APPROPRIATE
PREMIUM.

(2) THE BOARD SHALL ADOPT AND MAKE AVAILABLE
TO EACH SUCH AGENT OR BROKER REASONABLE RULES
AND REGULATIONS RELATING TO THE BINDING AUTHOR-