HARRY HUGHES, Governor                                     1683

the active practice of medicine in the State of Maryland or that
he is a physician serving in the employment of the federal
government or any agency thereof and does not otherwise practice
medicine in the State of Maryland or to any licensed physician
who submits a statement, sworn to under penalties of perjury,
stating that he is practicing medicine as a volunteer for no
remuneration at a clinic not operated for profit and stating that
he is not otherwise engaged in the private practice of medicine
in the State of Maryland or to any resident student physician
whose services are not billed separately. The statement shall be
in form established by the State Treasurer.

(c)  The legislature appropriates and dedicates the proceeds
of the tax provided by this subtitle as the initial
policyholders' surplus of the Society. After retaining an amount
to pay the cost of collection the Treasurer and Comptroller shall
promptly pay over the proceeds of the tax to the Society.

(d)  The board of directors of the Society OR ITS
SUBSIDIARIES may establish membership fees in amounts as they
deem reasonable to be paid by members of the Society OR ITS
SUBSIDIARIES. Any physician who has paid the tax specified in
subsection (b) shall be credited the amount of the tax paid
against his liability for any membership fee.

(e)  Upon payment of the specified membership fee a
physician OR OTHER HEALTH CARE PROVIDER may be insured by the
Society OR ITS SUBSIDIARIES for any and all hazards customarily
insured by the Society OR ITS SUBSIDIARIES, subject to any
coverage limitations specified by the Society OR ITS SUBSIDIARIES
in accordance with policy limitations, exclusions, conditions,
deductibles, and loss sharing requirements.]

4 553.

(a)  A rate Stabilization Reserve Fund is established to be
entered as a liability of the Society AND ITS SUBSIDIARIES along
with other premium and loss reserves. The fund shall be
administered and valued annually by three directors of the
Society AND ONE DIRECTOR FROM EACH OF ITS SUBSIDIARIES, together
with the Commissioner of Insurance or his deputy.

(b)  Each policyholder member of the Society AND ITS
SUBSIDIARIES shall pay to the Society a Stabilization Reserve
Fund charge. The directors of the Society AND ITS SUBSIDIARIES
shall determine the amount of the stabilization reserve fund
charge. This charge shall be separately stated in the policy. The
Society AND ITS SUBSIDIARIES shall cancel the policy of any
policyholder who fails to pay the stabilization reserve fund
charge.

(c)  Collection of the Stabilization Reserve Fund charge
shall continue until such time as the net balance of the
Stabilization Reserve Fund is not less than the projected sum of
premiums to be written in the year following the valuation date.