HARRY HUGHES, Governor                                    1635

243M.

(d)  The board of directors shall receive from the Maryland
Automobile Insurance Fund the certification of any actual

COMMERCIAL OR PRIVATE PASSENGER AUTOMOBILE insufficiency for a
preceding calendar year in accordance with § 243A(b). On or
before June 30 of each year in which the board receives such a
certification, it shall:

(1) Determine from the Insurance Commissioner the
aggregate net direct written premiums of all members of the
association during the most recent calendar year determined by
the Insurance Commissioner FOR COMMERCIAL AND PRIVATE PASSENGER

CATEGORIES OF MOTOR VEHICLE LIABILITY AND PHYSICAL DAMAGE
INSURANCE.

(2) Calculate [an] COMMERCIAL AND PRIVATE PASSENGER

AUTOMOBILE assessment allocation [percentage] PERCENTAGES by
dividing the Fund's most recent certified operating loss,
COMMERCIAL AND PRIVATE PASSENGER, by the total of (i) the

RESPECTIVE aggregate net direct written premiums referred to in
(1) above, plus (ii) the Fund's RESPECTIVE total net direct
written premium for the same period. The assessment allocation
percentage shall in no event exceed 3 percent FOR PRIVATE

PASSENGER AUTOMOBILES.

(3)  Notify all members, the Maryland Automobile
Insurance Fund, and the Maryland Insurance Commissioner of the
assessment allocation [percentage] PERCENTAGES so determined

UNDER THIS SUBSECTION.

(4)  Assess and collect from each member of the
association an amount equal to each member's net direct written
premium IN EACH CATEGORY for the most recent calendar year
determined by the Insurance Commissioner multiplied by the
APPROPRIATE assessment allocation percentage AS determined in (2)

above AND AS ADJUSTED FOR ANY RECOUPMENT SURPLUS OR SHORTFALL
EXPERIENCED BY ANY MEMBER FOR THE PREVIOUS APPLICABLE SURCHARGE
YEAR.

(5)  Deposit the assessment payment as required by §
243A(b).

(e) (1) The Insurance Commissioner shall promptly review
the assessment allocation [percentage] PERCENTAGES calculated by
the association. Unless the Commissioner finds the computation
to be inaccurate, the Commissioner shall authorize each member to
impose a recoupment charge on each policy of motor vehicle
liability and physical damage insurance written or renewed in
this State, for a period of one year commencing the next ensuing
July 1, by the same percentage as the APPLICABLE assessment
allocation percentage. Subject to paragraph (3) of this
subsection, this recoupment charge shall be computed by applying
the APPROPRIATED APPROPRIATE ADJUSTED assessment allocation
percentage to the premium at the inception or renewal of the