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Ch. 609
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2007 Laws of Maryland
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2. the sole member of a corporation issued a certificate of
authority as a nonprofit health service plan.
(ii) [On or before March 1, 2004, and annually thereafter, a
corporation subject to this paragraph shall report to the Commissioner on the amount
of the ordinary and necessary expenses paid to each board member in the preceding
calendar year.] ON OR BEFORE JUNE 30 OF EACH CALENDAR YEAR, A
CORPORATION SUBJECT TO THIS PARAGRAPH SHALL REPORT TO THE
COMMISSIONER ON:
1. THE TOTAL AMOUNT OF BASE COMPENSATION,
COMPENSATION FOR ATTENDANCE AT MEETINGS, AND REIMBURSEMENT FOR
ORDINARY AND NECESSARY EXPENSES PAID TO EACH BOARD MEMBER IN THE
PRECEDING CALENDAR YEAR; AND
2. THE PROPOSED ANNUAL COMPENSATION,
TOGETHER WITH NECESSARY SUPPORTING DOCUMENTATION, TO BE PAID TO
BOARD MEMBERS FOR THE NEXT CALENDAR YEAR.
14-139.
(d) (1) The compensation committee of the board shall:
(i) identify nonprofit health service plans in the United States
that are similar in size and scope to the nonprofit health service plan managed by the
board: and
(ii) develop proposed guidelines, for approval by the board[,]:
1. for compensation, including salary, bonuses, and
perquisites, of all officers and executives that is reasonable in comparison to
compensation for officers and executives of similar nonprofit health service plans; AND
2. FOR COMPENSATION FOR BOARD MEMBERS THAT
IS REASONABLE IN COMPARISON TO COMPENSATION FOR BOARD MEMBERS OF
SIMILAR NONPFROFIT HEALTH SERVICE PLANS.
(2) The board shall review the proposed guidelines at least annually.
(3) The board shall:
(i) provide a copy of the approved guidelines:
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- 3884 -
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