984                                 Laws of Maryland                         Ch. 416

436H. Filing, Approval, and Withdrawal of Forms.

(a)    All policies, certificates of insurance, notices of proposed
insurance, applications for insurance, endorsements, and riders de-
livered or issued for delivery in this State, together with the sched-
ules of premium rates pertaining thereto, shall be filed with the
Commissioner for approval.

(b)    The Commissioner, within forty-five (45) days after the
filing of the policies, certificates of insurance, notices of proposed
insurance, applications for insurance, endorsements, riders and pre-
mium rates, shall disapprove the form or premium rates if the table
of premium rates charged or to be charged appears by reasonable
assumptions to be excessive in relation to benefits, or if the form con-
tains provisions which are unjust, unfair, inequitable, misleading,
deceptive, or encourage misrepresentations of the coverage, or are
contrary to any provision of the Insurance Code or of any rule or
regulation promulgated thereunder. In determining whether to dis-
approve the form or premium rates, the Commissioner shall give due
consideration to past and prospective loss experience within and out-
side this State, to underwriting practice and judgment to the extent
appropriate, to a reasonable margin for underwriting profit and con-
tingencies, to past and prospective expenses, both countrywide and
those specially applicable to this State, and to all other relevant
factors within and outside this State.

(c)    If the Commissioner notifies the insurer that the form or
premium rate is disapproved, it is unlawful thereafter for the in-
surer to issue or use such form or rates. In the notice, the Commis-
sioner shall specify the reason for his disapproval and state that a
hearing will be granted within twenty (20) days after request in
writing by the insurer. No policy, certificate of insurance, notice of
proposed insurance, nor any application, endorsement, rider or pre-
mium rate shall be issued or used until the expiration of the forty -
five days after it has been filed, unless the Commissioner shall give
his prior written approval thereto.

(d)    The Commissioner, at any time after a hearing held not less
than twenty (20) days after written notice to the insurer, may with-
draw his approval of any such form on any ground set forth in sub-
section (b) above. The written notice of the hearing shall state the
reason for the proposed withdrawal.

(e)    It is not lawful for the insurer to issue or use such forms or
rates after the effective date of such withdrawal.

(f)    If a group policy of credit life insurance or credit health
insurance

(1)    has been delivered in this State before the effective date of
this subtitle, or

(2)    has been or is delivered in another state before or after the
effective date of this subtitle,

the insurer shall be required to file only the group certificate and
notice of proposed insurance, delivered or issued for delivery in
this State as specified in subsections (b) and (d) of Section 436G of
this Article and such forms shall be approved by the Commissioner