2210

LAWS OF MARYLAND

[Ch. 369

3.

(b) The applicant shall furnish to the Commissioner
such data and information as the Commissioner may deem
reasonably necessary to enable him to determine, in
accordance with the provisions of this article, whether
or not a certificate of authority should be issued to the
applicant. It shall be executed under oath by the
applicant, or if other than an individual, by an
authorized officer of the applicant, and the information
filed with the application shall include the following:

(1)   If such applicant is a corporation, a
certificate of good standing from the State Department of
Assessments and Taxation, together with the names and
addresses of all officers and directors, and the names
and addresses of all persons owning in excess of ten
percent of the capital stock of the corporation issued
and outstanding.

(2)    If not incorporated, a list of all
persons owning an interest in the applicant, the officers
thereof, and the parties to any operating or management
agreement affecting the applicant, together with a copy
of such agreement.

(3)   A financial statement certified by a
registered or certified public accountant within the
previous six months, presenting fairly, in accordance
with generally accepted accounting principles, the
financial position of the applicant and containing such
information as the Commissioner may prescribe. The
Commissioner may at his discretion accept a financial
statement certified by a registered or certified public
accountant within the previous year for an applicant
doing business within the State prior to January 1, 1972.

(4) A copy of its service contract, the terms
of which shall not:

(i) Contain inconsistent, ambiguous or
misleading clauses or exceptions or conditions which
deceptively affect the risk purported to be assumed or
the service to be performed;

(ii) Contain any inequitable provision
or provisions without substantial benefit to the member
or subscriber; or

(iii) Provide for the payment of fees
which are unreasonable in relation to the services agreed
to be performed[.];

[[(IV) LIMIT EMERGENCY ROAD SERVICE