Ch. 35

1997 LAWS OF MARYLAND

(4) UNLESS THE COMMISSIONER EXTENDS THE TIME FOR FILING, A
NONPROFIT HEALTH SERVICE PLAN THAT FAILS TO FILE AN ANNUAL STATEMENT
ON OR BEFORE MARCH 10 SHALL PAY A PENALTY OF:

(I) $100 FOR EACH DAY FROM MARCH 1 TO MARCH 10, BOTH
INCLUSIVE; AND

(II) $150 FOR EACH DAY FROM MARCH 11 TO THE DAY BEFORE THE
COMMISSIONER RECEIVES THE STATEMENT, BOTH INCLUSIVE.

(B) INTERIM STATEMENT.

AT ANY TIME, THE COMMISSIONER MAY REQUIRE A NONPROFIT HEALTH
SERVICE PLAN DOING BUSINESS IN THE STATE TO FILE AN INTERIM STATEMENT
CONTAINING THE INFORMATION THAT THE COMMISSIONER CONSIDERS
NECESSARY.

(C) AUDITED FINANCIAL REPORT FOR AFFILIATE AND SUBSIDIARY — IN

GENERAL.

(1) (I) THIS PARAGRAPH DOES NOT APPLY TO:

1. A HEALTH MAINTENANCE ORGANIZATION REQUIRED TO
FILE AN ANNUAL REPORT UNDER § 19-717 OF THE HEALTH - GENERAL ARTICLE; OR

2. AN AUTHORIZED INSURER REQUIRED TO FILE AN
ANNUAL REPORT UNDER § 4-116 OF THIS ARTICLE.

(II) ON OR BEFORE JUNE 30 OF EACH YEAR, UNLESS THE
COMMISSIONER EXTENDS THE TIME FOR GOOD CAUSE, EACH NONPROFIT HEALTH
SERVICE PLAN SHALL FILE WITH THE COMMISSIONER AN AUDITED FINANCIAL
REPORT FOR EACH AFFILIATE AND SUBSIDIARY OWNED BY OR UNDER THE
CONTROL OF THE NONPROFIT HEALTH SERVICE PLAN DURING THE IMMEDIATELY
PRECEDING CALENDAR YEAR.

(2) THE REPORT SHALL CONTAIN THE INFORMATION REQUIRED BY
THE COMMISSIONER AND BE CERTIFIED BY AN INDEPENDENT CERTIFIED PUBLIC
ACCOUNTANT AS TO THE FINANCIAL CONDITION, TRANSACTIONS, AND AFFAIRS OF
EACH AFFILIATE AND SUBSIDIARY FOR THE IMMEDIATELY PRECEDING CALENDAR
YEAR.

(3) UNLESS THE COMMISSIONER EXTENDS THE TIME FOR FILING, A
NONPROFIT HEALTH SERVICE PLAN THAT FAILS TO FILE AN AUDITED FINANCIAL
REPORT ON OR BEFORE JULY 10 SHALL PAY A PENALTY OF:

(I) $100 FOR EACH DAY FROM JUNE 30 TO JULY 10, BOTH
INCLUSIVE; AND

(II) $150 FOR EACH DAY FROM JULY 11 TO THE DAY BEFORE THE
COMMISSIONER RECEIVES THE REPORT, BOTH INCLUSIVE.

(D) SAME — REQUIRED INFORMATION.

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