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LAWS OF MARYLAND

Ch. 151

Article 48A — Insurance Code

243.

(c) The board of trustees of the Fund shall consist
of 11 persons, selected as follows. The executive director
is a member and chairman of the board ex officio, and,
except as provided in subsection [(a)] (B), has the power to
vote. Five members shall be appointed by the Governor with
the advice and consent of the Senate, and serve at the
pleasure of the Governor- Five members shall be appointed
by the board of directors of the Industry Automobile
Insurance Association in accordance with § 243M. The board
of trustees shall advise the executive director with respect
to his exercise of the powers and duties conferred on him by
this subtitle. The board of trustees shall formulate policy
for the Fund. Each trustee who is not otherwise an officer
or employee of the State shall receive per diem compensation
set by the Board of Public Works for each day actually
engaged in the discharge of his official duties as a
trustee, and each trustee shall receive reimbursement for
all necessary and proper expenses.

(f)    At his discretion, the Legislative Auditor may
conduct an annual audit of a fiscal and compliance nature of
the accounts and transactions of the Fund in place of
conducting these audits on a biennial basis. Officials of
the Fund shall be advised whether annual or biennial audits
will be conducted. If a fiscal audit of the Fund has been
undertaken by an independent auditor, the audit by the
Legislative Auditor for that same period shall not duplicate
the fiscal portion of the audit made by the independent
auditor- If at the request of the Fund the Legislative
Auditor undertakes the fiscal portion of the audit in lieu
of an independent auditor, the Legislative Auditor may
charge the Fund for the cost of the audit. The audit
undertaken pursuant to this subsection shall be in addition
to and not in [substitute] SUBSTITUTION of any audit or
regulatory authority of the Insurance Commissioner.

243M.

(g)    Each member shall keep separate and detailed
records of any expenses actually incurred that are directly
attributable to the collection of the recoupment authorized
under subsection [(e)] (F). Upon verification, and if
relevant, these expenses shall be considered as appropriate
cost items by the Insurance Commissioner in any subsequent
rate filing by the member.

490B.

(a) Every insurer providing - professional liability
insurance to a practitioner of medicine licensed in Maryland
in accordance with Article 43, title "Health," subtitle
"Practitioners of Medicine," or to a hospital, nurse,
dentist, osteopath, podiatrist, optometrist, chiropractor,