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LAWS OF MARYLAND

Ch. 255

effect had previously been approved by the Commissioner. If,
after a hearing held upon not less than ten days' written notice
to the rating organization or insurer, the Commissioner finds
that the rates or any part thereof, or the method of setting the
rates [on] OR any part thereof, are not in compliance with
subsection (c) hereof, he may pass such order or orders as he
deems appropriate to (i) require that the rates or parts thereof,
or the method of setting the rates or any part thereof, be so
adjusted as to comply with subsection (c) and (ii) require any
such insurer whose rates or part thereof are found to be in
violation of subsection (c) to reimburse any insured who, during
the period of time such rates were in effect, not exceeding one
year, paid a higher premium than the Commissioner finds should
have been charged had the rates been in compliance with
subsection (c), an amount equal to the difference between the
premium paid and the premium which the Commissioner finds should
have been charged during such period; provided, however, that no
order of reimbursement shall be made prior to one year after
January 1, 1973.

243M.

(f)  Each member of the association shall apply and collect
any assessment surcharge pursuant to subsections (d) and (e).
Each member of the association shall report quarterly to the
association pursuant to [§]§ 243A and [243M] THIS SECTION. An
officer of each member shall certify, in the manner required by
the association's board of directors, that any amounts collected
and paid are a true and accurate accounting of its policy
surcharges.

(g)  All insufficiency assessment moneys received by the
Fund during the applicable calendar year shall be considered as a
direct contribution to surplus for annual statement purposes. In
the event that the aggregate amount of surcharges received by any
association member company during the applicable recoupment year
is less than that member's assessment contribution for which the
surcharges were collected, the member's authorized surcharge
under [§ 243M(e)] SUBSECTION (E) OF THIS SECTION shall be
increased accordingly for the next appropriate recoupment year.
In the event that the aggregate amount of surcharges received by
any association member company during the applicable recoupment
year is greater than that member's assessment contribution for
which the surcharges were collected, the member shall deposit the
excess as provided in § 243N(b) and shall receive a credit for
the amount deposited against the next appropriate assessment
under § 243A and [§ 243M] THIS SECTION.

394A.

(a) [(1)] In this section, "published monthly average"
means:

(1) Moody's corporate bond yield average - monthly
average corporates as published by Moody's [Investor's] INVESTORS
Service. Inc. or its successor; or