S.B. 4                                                     VETOES

altering the manner of selecting board members of certain nonprofit health
service plans; altering the actions for which board approval is required;
requiring the Commissioner to adopt certain regulations; prohibiting certain
board members and officers from receiving certain personal or financial
enrichment to the detriment of the nonprofit health service plan or its mission;
including as a principal function of a board of a nonprofit health service plan the
consideration of an independent valuation of a nonprofit health service plan
prior to making a certain other consideration; specifying the manner in which
certain officers of a nonprofit health service plan must act; providing that a
violation of certain provisions of this Act is an unsound and unsafe business
practice; altering a certain provision of law relating to unsound and unsafe
business practices; authorizing the Insurance Commissioner to impose a certain
civil penalty against certain officers or directors who fail to take appropriate
action in response to a certain warning; altering certain provisions of law
relating to certain actions by an officer, director, or employee of a nonprofit
health service plan; requiring that an application for acquisition of a nonprofit
health entity include a certain valuation of the nonprofit health entity and a
certain antitrust analysis; specifying that a certain acquisition is not in the
public interest unless certain steps are taken to ensure that certain assets are
spent in a certain manner; prohibiting a certain regulating entity from making
a certain determination unless certain considerations are made nonprofit health
entities have considered certain risks; defining a certain term; authorizing
certain directors of a certain nonprofit health service plan to serve for a certain
additional term until a certain date; and generally relating to the regulation and
acquisition of certain nonprofit health service plans entities.

BY repealing and reenacting, without amendments,
Article — Courts and Judicial Proceedings
Section 5-106(a)
Annotated Code of Maryland
(2002 Replacement Volume and 2003 Supplement)

BY adding to

Article - Courts and Judicial Proceedings

Section 5-106(z)

Annotated Code of Maryland

(2002 Replacement Volume and 2003 Supplement)

BY repealing and reenacting, with amendments,
Article - Insurance
Section 14-115(c) 14-102(a), (c), (d), and (f), 14-110, 14-115(b), (c), and (d)(2)

and (11), 14-116(a) and (b), and 14-139(a)
Annotated Code of Maryland
(2002 Replacement Volume and 2003 Supplement)

BY repealing and reenacting, without amendments,
Article - Insurance

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