Marvin Mandel, Governor                        1317

THE INSTITUTION TO RENDER EFFECTIVE AND EFFI-
CIENT SERVICE IN THE PUBLIC INTEREST AND WHICH
INCLUDES AN ALLOWANCE FOR A FAIR RETURN TO
STOCKHOLDERS BASED UPON ACTUAL INVESTMENT OR
THE FAIR VALUE OF THE INVESTMENT, WHICHEVER IS
LESS.

(3) In the determination of reasonable rates under this section
for each institution, take into account the recommendations of appro-
priate areawide and State comprehensive health planning agencies
to ensure compliance with Maryland comprehensive health planning
law as found in Article 43, section SECTION 59C OF ARTICLE 41
of the Annotated Code of Maryland.

(4) In considering a request for change in or initiating a review
of rate schedules or other changes, CHARGES, permit any institu-
tion subject to the provisions of this subtitle to charge rates which
will in the aggregate produce sufficient total revenue for the institu-
tion to meet all of the reasonable obligations specified herein.

568 W.

From and after July 1, 1974, no institution subject to the pro-
visions of this subtitle shall change or amend that schedule of rates
and charges of the type and class which cannot be changed without
prior approval of the Commission, except in accordance with the fol-
lowing procedure:

(1)  Any request for a change in rate schedules or other charges
must be filed in writing with such supporting data as the institution
seeking the change deems appropriate. Unless the Commission orders
otherwise as provided for hereunder, no institution shall establish
such changes except after 30 days notice to the Commission. Upon
receipt of notice, the Commission may suspend the effective date of
any proposed change. In any such case a formal written statement
of the reasons for the suspension will be promptly submitted to the
institution. Unless suspended, any proposed change shall go into
effect upon the date specified in the application.

(2)  In any case where such action is deemed necessary, the Com-
mission shall promptly institute proceedings as to the reasonableness
of the proposal. The suspension may extend for a period of not more
than 30 days beyond the date the change would otherwise go into
effect; provided, however, that should it be necessary, the Commis-
sion may extend the suspension for an additional 30 days. After the
expiration of 90 days the new rate will go into effect, if the Com-
mission does not approve, disapprove or modify the requests BY
THAT TIME.

(3)  In any case where the Commission deems it necessary such
proposals shall be considered at a public hearing, the time and place
of which shall be determined by the Commission. The hearing shall
be conducted by the Commission at which time evidence for and
against the requested change may be introduced by any interested
party and witnesses may be heard. The hearing may be conducted
without compliance with formal rules of evidence.

(4)   The Commission may, in its discretion, permit any institution
to make a temporary change in rates which shall be effective imme-
diately upon filing and in advance of any review procedure when it