WILLIAM DONALD SCHAEFER, Governor Ch. 564

the account. In the event an assessment against a member insurer
is reduced because of this limitation, the amount by which such
assessment is reduced shall be assessed against the other member
insurers in a manner consistent with the basis for assessments
set forth in this section. If the maximum assessments in any
[one] 1 calendar year against all insurers, together with the
other assets of the [Association] CORPORATION in any account, are
insufficient to provide in such account the amount necessary to
carry out the responsibilities of the [Association] CORPORATION,
the necessary additional funds shall be assessed against the
member insurers as soon thereafter as [permitted by] this
subtitle PERMITS.

(6)  The board may, by an equitable method as established in
the plan of operation, refund to member insurers, in proportion
to the contribution of each insurer to that account, the amount
by which the assets of the account exceed the amount the board
finds is necessary to carry out during the coming year the
obligations of the [Association] CORPORATION with regard to that
amount, including assets accruing from net realized gains and
income from investments, provided such refund is approved by the
Commissioner. A reasonable amount may be retained in any account
to provide funds for the continuing expenses of the [Association]
CORPORATION and for future losses if refunds are impractical.

(7)   It shall be proper for any member insurer, in
determining its premium rates and policyowner dividends as to any
kind of insurance within the scope of this subtitle, to consider
the amount reasonably necessary to meet its assessment
obligations under this subtitle.

(8)  The [Association] CORPORATION shall issue to each
insurer paying an assessment under this subtitle a certificate of
contribution, in a form prescribed by the Commissioner, for the
amount so paid. All outstanding certificates shall be of equal
dignity and priority without reference to amounts or dates of
issue. A certificate of contribution may be shown by the insurer
in its financial statement as an asset in such form and for such
amount, if any, and period of time as the Commissioner may
approve.

529.

(1) (a) The [Association] CORPORATION shall submit to the
Commissioner a plan of operation and any amendments thereto
necessary or suitable to assure the fair, reasonable, and
equitable administration of the [Association] CORPORATION. The
plan of operation and any amendments thereto shall become
effective upon approval in writing by the Commissioner.

(b) If the [Association] CORPORATION fails to submit
a suitable plan of operation within 180 days following [July 1,
1971] JULY 1, 1989, or if at any time thereafter the

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