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2888 LAWS OF MARYLAND Ch. 713
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THE SOCIETY HAS ALL THE POWER, PRIVILEGES, AND IMMUNITIES
GRANTED BY AND IS SUBJECT TO THE PROVISIONS IMPOSED UPON
MUTUAL INSURERS BY THIS ARTICLE AND BY THE APPLICABLE
PROVISIONS OF THE CORPORATIONS AND ASSOCIATIONS ARTICLE,
(C) THE SOCIETY IS NOT SUBJECT TO THE PROVISIONS
OF §§252, 253 OR 268A OF THIS ARTICLE OR § 6-505 OF THE
CORPORATIONS AND ASSOCIATIONS ARTICLE.
(D) THE SOCIETY IS A MEMBER OF THE PROFESSIONAL
LIABILITY FUND AND THE MARYLAND INSURANCE GUARANTY
ASSOCIATION.
569.
(A) THE SOCIETY IS GOVERNED AND ALL OF ITS POWERS
SHALL BE EXERCISED BY A BOARD OF DIRECTORS CONSISTING OF
11 MEMBERS. THE INITIAL BOARD Of DIRECTORS SHALL BE
APPOINTED BY THE GOVERNOR WITHIN 30 DAYS AFTER THE
FINDING REQUIRED BY § 567(B). THE INITIAL BOARD SHALL
SERVE FOR A TERM OF SIX MONTHS. THEREAFTER, DIRECTORS
SHALL BE ELECTED BY THE MEMBERS OF THE SOCIETY IN
ACCORDANCE WITH THE ARTICLES OF INCORPORATION AND BYLAWS
OF THE SOCIETY.
(B) WITHIN 30 DAYS AFTER THEIR APPOINTMENT BY THE
GOVERNOR, THE INITIAL BOARD OF DIRECTORS SHALL CAUSE
ARTICLES OF INCORPORATION AND BYLAWS TO BE PREPARED AND
FILED IN ACCORDANCE WITH THE PROVISIONS OF THIS ARTICLE
AND THE PROVISIONS OF THE CORPORATIONS AND ASSOCIATIONS
ARTICLE OF THE CODE.
(C) THE BYLAWS SHALL PROVIDE THAT:
(1) AT LEAST TWO OF THE DIRECTORS SHALL HAVE
HAD SUBSTANTIAL EXPERIENCE AS AN OFFICER OR EMPLOYEE OF
AN INSURER; AND
(2) TO THE EXTENT PRACTICABLE, THE BOARD OF
DIRECTORS SHALL INCLUDE PERSONS FROM EACH OF THE
GEOGRAPHICAL AREAS OF THE STATE.
(D) UPON APPROVAL OF THE APPLICATION FOR THE
CERTIFICATE OF AUTHORITY, THE COMMISSIONER SHALL ISSUE
THE CERTIFICATE AUTHORIZING THE SOCIETY TO ISSUE POLICIES
OF CASUALTY INSURANCE AS FOLLOWS:
(1) INSURANCE AGAINST LIABILITY OF ATTORNEYS
FOR INJURY ARISING OUT OF THE RENDERING OF OR FAILURE TO
RENDER PROFESSIONAL SERVICES BY THE INSURED;
(2) INSURANCE AGAINST THE LIABILITY OF ANY
PERSON FOR WHOSE ACTS OR OMISSIONS AN ATTORNEY IS
RESPONSIBLE UNDER THE PROVISIONS OF PARAGRAPH (1), OR
WITH WHOM HE IS ASSOCIATED, INCLUDING PARTNERS,
EMPLOYEES, EMPLOYERS, ASSOCIATES, CONSULTANTS, OR A
PROFESSIONAL SERVICE CORPORATION WHOSE STOCK IS OWNED BY
AN INSURED;
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