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Ch. 508 2005 LAWS OF MARYLAND
COMMISSION. THE COMMISSION SHALL PROMULGATE RULES TO ESTABLISH
PROCEDURES FOR APPOINTING SUCH REVIEW PANELS AND PROVIDE FOR NOTICE
AND A HEARING. AN ALLEGATION THAT THE COMMISSION, IN DISAPPROVING A
PRODUCT OR ADVERTISEMENT FILED WITH THE COMMISSION, ACTED ARBITRARILY,
CAPRICIOUSLY, OR IN A MANNER THAT IS AN ABUSE OF DISCRETION OR OTHERWISE
NOT IN ACCORDANCE WITH THE LAW, IS SUBJECT TO JUDICIAL REVIEW IN
ACCORDANCE WITH ARTICLE III, SECTION 4.
2. THE COMMISSION SHALL HAVE AUTHORITY TO MONITOR, REVIEW, AND
RECONSIDER PRODUCTS AND ADVERTISEMENT SUBSEQUENT TO THEIR FILING OR
APPROVAL ON A FINDING THAT THE PRODUCT DOES NOT MEET THE RELEVANT
UNIFORM STANDARD. WHERE APPROPRIATE, THE COMMISSION MAY WITHDRAW OR
MODIFY ITS APPROVAL AFTER PROPER NOTICE AND HEARING, SUBJECT TO THE
APPEAL PROCESS IN SECTION 1 OF THIS ARTICLE.
ARTICLE XII. FINANCE.
1. THE COMMISSION SHALL PAY OR PROVIDE FOR THE PAYMENT OF THE
REASONABLE EXPENSES OF ITS ESTABLISHMENT AND ORGANIZATION. TO FUND THE
COST OF ITS INITIAL OPERATIONS, THE COMMISSION MAY ACCEPT CONTRIBUTIONS
AND OTHER FORMS OF FUNDING FROM THE NATIONAL ASSOCIATION OF INSURANCE
COMMISSIONERS, COMPACTING STATES, AND OTHER SOURCES. CONTRIBUTIONS
AND OTHER FORMS OF FUNDING FROM OTHER SOURCES SHALL BE OF SUCH A
NATURE THAT THE INDEPENDENCE OF THE COMMISSION CONCERNING THE
PERFORMANCE OF ITS DUTIES SHALL NOT BE COMPROMISED.
2. THE COMMISSION SHALL COLLECT A FILING FEE FROM EACH INSURER
AND THIRD-PARTY FILER FILING A PRODUCT WITH THE COMMISSION TO COVER THE
COST OF THE OPERATIONS AND ACTIVITIES OF THE COMMISSION AND ITS STAFF IN A
TOTAL AMOUNT SUFFICIENT TO COVER THE COMMISSION'S ANNUAL BUDGET.
3. THE COMMISSION'S BUDGET FOR A FISCAL YEAR SHALL NOT BE
APPROVED UNTIL IT HAS BEEN SUBJECT TO NOTICE AND COMMENT AS SET FORTH
IN ARTICLE VII OF THIS COMPACT.
4. THE COMMISSION SHALL BE EXEMPT FROM ALL TAXATION IN AND BY THE
COMPACTING STATES.
5. THE COMMISSION SHALL NOT PLEDGE THE CREDIT OF ANY COMPACTING
STATE, EXCEPT BY AND WITH THE APPROPRIATE LEGAL AUTHORITY OF THAT
COMPACTING STATE.
6. THE COMMISSION SHALL KEEP COMPLETE AND ACCURATE ACCOUNTS OF
ALL ITS INTERNAL RECEIPTS, INCLUDING GRANTS AND DONATIONS, AND
DISBURSEMENTS OF ALL FUNDS UNDER ITS CONTROL. THE INTERNAL FINANCIAL
ACCOUNTS OF THE COMMISSION SHALL BE SUBJECT TO THE ACCOUNTING
PROCEDURES ESTABLISHED UNDER ITS BYLAWS. THE FINANCIAL ACCOUNTS AND
REPORTS, INCLUDING THE SYSTEM OF INTERNAL CONTROLS AND PROCEDURES OF
THE COMMISSION, SHALL BE AUDITED ANNUALLY BY AN INDEPENDENT CERTIFIED
PUBLIC ACCOUNTANT. ON THE DETERMINATION OF THE COMMISSION, BUT NO LESS
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