740

LAWS OF MARYLAND

Ch. 241

(2) THE FUND SHALL KEEP SEPARATE RECORDS OF

ANY INCOME AND EXPENSES DIRECTLY ATTRIBUTABLE TO THE

PROCESSING AND PAYMENT OF UNINSURED CLAIMS.

243B.

(a) Subject to the provisions of this subtitle
generally and § 243D hereof in particular, the Fund is
authorized and shall sell, issue, and deliver, upon
payment of the premium set by the Fund, a policy of
automobile liability insurance to any Maryland resident
who owns an automobile validly registered with the Motor
Vehicle Administrator, or has a valid license to operate
an automobile issued by the Motor Vehicle
Administrator[[[ ]], and who either (i) has in good faith
attempted to obtain a policy of automobile liability
insurance from at least two private insurers authorized
to write such a policy in this State and has been
rejected or refused such a policy by two such private
insurers for any reason other than nonpayment of
premiums, or (ii) who has had a policy of automobile
liability insurance cancelled or nonrenewed for any
reason other than nonpayment of premiums, by a private
insurer authorized to write such a policy in this
State[[ ]]]. THE PURPOSE OF THE FUND IS TO PROVIDE
AUTOMOBILE INSURANCE TO THOSE ELIGIBLE PERSONS WHO ARE
UNABLE TO OBTAIN IT IN THE PRIVATE MARKET.

(c) The Fund shall pay a commission[[,]]
DETERMINED BY THE BOARD OF TRUSTEES BUT not to exceed
[10%] [[15]] 12 PERCENT of the TOTAL POLICY premiums, to
the agent or broker of a policyholder to whoa a policy of
insurance is issued or renewed by the Fund.

243D.

(a)    The executive director may reject an
application of insurance or cancel a policy of insurance
if he finds that the driving license of the applicant or
policyholder is or becomes suspended or revoked[[, OR,
SUBJECT TO THE PROVISIONS OF §234A, THAT THE DRIVING
RECORD OR CLAIMS' EXPERIENCE OF THE APPLICANT OR
POLICYHOLDER MAKES THE APPLICANT OR POLICYHOLDER AN
UNREASONABLY HIGH RISK TO THE FUND]]. The executive
director shall promptly notify [[THE MOTOR VEHICLE
ADMINISTRATOR AND]] the applicant or policyholder of his
action. [[IF THERE IS A CURRENT POLICY, AND [If]]] IF
the policy of insurance covers a spouse or other
household member of the family of the policyholder, the
cancellation of the policy shall not cancel the coverage
of such spouse or family member who has not had his or
her driving license suspended or revoked, and the insurer
shall reclassify the rate of risk of such spouse or
family member for premium purposes.

(b)    An applicant whose application for insurance
has been rejected or a policyholder whose policy has been