2056                                 LAWS OF MARYLAND                               Ch. 574

upon application therefor to the Association, to an
inspection of the property by the inspection bureau, without
cost to the owner. IF THE INSPECTION BUREAU IS UNABLE TO
COMPLETE AN INSPECTION OF THE PROPERTY DUE TO THE FAULT OF
THE OWNER OR APPLICANT, THE ASSOCIATION MAY REQUIRE THE
APPLICANT TO PAY, IN ADVANCE, THE REASONABLE COST OF ANY
SUBSEQUENT INSPECTION EFFORTS.

478E.

(1) There is hereby created a fund to be known as the
"Maryland Insurance Development Fund" for the purpose of
providing financial backup to enable insurers to qualify for
riot and civil disorder reinsurance under the Urban Property
Protection and Reinsurance Act of 1968 or any other act of
the Congress of the United States which will similarly
provide reinsurance or financial backup to accomplish the
purposes of this subtitle. The fund shall be used to make
payments as may be required of the State under the federal
reinsurance plan to any federal reinsurance entity, or to an
insurer or the association for losses sustained in excess of
the amount of retention of such losses as shall be provided
for by the Commissioner; provided, however, that the amount
of such payments or reimbursement in any one year shall in
no event exceed five percent of the aggregate property
insurance premiums earned in this State in the most recent
full calendar year on those lines of insurance reinsured by
the Secretary OF THE DEPARTMENT OF HOUSING AND URBAN
DEVELOPMENT APPROPRIATE FEDERAL AUTHORITY. The fund shall
consist of all moneys appropriated to the fund, of
securities acquired by and through the use of moneys
belonging to the fund, together with interest and accretions
earned thereon. Included in the fund also shall be any
moneys appropriated for this purpose from the issue and sale
of certificates of indebtedness by the State, including
Chapter 436 (S.B. 624) of the Acts of 1969 or other law for
the issue and sale of such certificates of indebtedness.
The fund created by this section shall be deposited with the
State Treasurer to be held in such banks as he deems proper
and shall be accounted for by the State Comptroller in a
special account known as the "Maryland Insurance Development
Fund."

478F.

(4) THE COMMISSIONER MAY DETERMINE WHETHER THE PROGRAM
OF OPERATION PROVIDES REASONABLE ACCESS AND MARKETING
STANDARDS FOR IMMEDIATE BINDING OF ELIGIBLE RISKS,
INSTALLMENT PAYMENT PLANS, AND ESTABLISHING ADEQUATE
MARKETING AND SERVICE FACILITIES IN ALL APPROPRIATE URBAN
AREAS OF THIS STATE. THE COMMISSIONER SHALL ALSO REQUIRE
THE PROGRAM OF OPERATION TO IMPLEMENT PROCEDURES WHEREBY
HOMEOWNERS INSURANCE COVERAGE BECOMES PART OF THE PROGRAM OF
ESSENTIAL PROPERTY INSURANCE AND HOMEOWNER'S INSURANCE BY
DEVELOPING, WITH THE CONSULTATION OF THE GOVERNING
COMMITTEE, HOMEOWNERS INSURANCE CONTRACTS FOR URBAN AREAS.