3946                                                      VETOES

(C)  "COMMERCIAL CASUALTY INSURANCE" MEANS CASUALTY
INSURANCE:

(1)  AS DEFINED UNDER § 68 OF THIS ARTICLE; AND

(2)  THAT PROVIDES COVERAGES, TERMS, AND CONDITIONS IN
POLICIES FOR COMMERCIAL ENTITIES, AS APPROVED BY THE
COMMISSIONER.

(D)  "COMMERCIAL ENTITY" MEANS ANY PERSON THAT:

(1)  IS A RESIDENT OF THIS STATE; AND

(2) (I) IS ENGAGED IN COMMERCE PRIMARILY WITHIN THIS
STATE; OR

(II) IS A NONPROFIT, NONSTOCK CORPORATION THAT:

1. IS EXEMPT FROM FEDERAL INCOME TAX
UNDER § 501(C)(3) OR (4) OF THE INTERNAL REVENUE CODE OF 19 54, AS
AMENDED; AND

2. RECEIVES LESS THAN 50 PERCENT OF ITS
ANNUAL OPERATING BUDGET FROM A LOCAL GOVERNMENT.

(E)  "COMMISSIONER" MEANS THE COMMISSIONER OF INSURANCE OF
THE STATE OF MARYLAND.

(F)  "MARYLAND COMMERCIAL CASUALTY POOL" OR "POOL" MEANS THE
POOL FORMED UNDER THIS SUBTITLE.

(G)  "COMMERCIAL CASUALTY INSURANCE POLICY" OR "POLICY"
MEANS A 1-YEAR POLICY FOR COMMERCIAL CASUALTY INSURANCE ISSUED BY
OR REINSURED BY THE POOL. THE ASSOCIATION, COVERING ACTIVITIES
OCCURRING WITHIN THIS STATE AND ISSUED ON A CLAIMS MADE BASIS.

(H) "PLAN OF OPERATION" MEANS THE FORMAL PLAN OF OPERATION
OF THE MARYLAND COMMERCIAL CASUALTY POOL ADOPTED UNDER § 602 OF
THIS SUBTITLE FOR A SUBPOOL, INCLUDING ANY DULY ADOPTED
AMENDMENTS.

(I) "PROGRAM OF OPERATION" MEANS THE FORMAL PROGRAM OF
OPERATION ADOPTED UNDER § 601 OF THIS SUBTITLE FOR THE
ASSOCIATION, INCLUDING ANY DULY ADOPTED AMENDMENTS.

(I) (J) "BOARD OF GOVERNORS" MEANS THE BOARD DESIGNATED
UNDER THE PROVISIONS OF § 478C(4) OF THIS ARTICLE § 601 OF THIS
SUBTITLE.

(J) (K) "PREMIUMS WRITTEN" MEANS GROSS DIRECT PREMIUMS
CHARGED DURING THE SECOND PRECEDING CALENDAR YEAR WITH RESPECT TO
GENERAL COMMERCIAL CASUALTY INSURANCE POLICIES IN THIS STATE AND
THE GENERAL CASUALTY COMPONENTS OF COMMERCIAL MULTIPERIL POLICIES
AS COMPUTED BY THE JOINT INSURANCE ASSOCIATION, LESS RETURN
PREMIUMS, DIVIDENDS PAID OR CREDITED TO POLICYHOLDERS, OR THE
UNUSED OR UNABSORBED PORTIONS OF PREMIUM DEPOSITS.