3954

VETOES

(4) THE POLICY OF ANY POLICYHOLDER WHO FAILS TO PAY
THE STABILIZATION RESERVE FUND CHARGE SHALL BE CANCELLED.

(5) THE STABILIZATION RESERVE FUND CHARGE SHALL

CONTINUE UNTIL SUCH TIME AS THE NET BALANCE OF THE STABILIZATION
RESERVE FUND FOR EACH SUBPOOL IS NOT LESS THAN THE PROJECTED SUM
OF PREMIUMS TO BE WRITTEN IN THE YEAR FOLLOWING THE VALUATION
DATE.

(6) THE FUND SHALL BE CREDITED WITH ALL THE RESERVE
FUND CHARGES COLLECTED FROM POLICYHOLDERS AND, IN ANY YEAR THE
SUBPOOL SUSTAINS AN OPERATING LOSS, SHALL BE CHARGED WITH THE
LOSS.

(C)(1) SUBJECT TO PARAGRAPH (2) OF THIS SUBSECTION, THE
PROGRAM OF OPERATION OF EACH SUBPOOL SHALL CONTAIN A PROVISION
AUTHORIZING THE DIRECT RECOUPMENT BY MEMBER INSURERS FROM THE
POLICYHOLDERS OF THE SUBPOOL OF ANY ASSESSMENT REQUIRED TO BE
MADE BY THE MEMBER INSURERS INTO OR ON BEHALF OF THE SUBPOOL.

(2)(I) A MEMBER INSURER MAY NOT MAKE MORE THAN 1
DIRECT RECOUPMENT FROM ITS POLICYHOLDERS FOR EVERY 6 MONTH
PERIOD.

(II) FOR EACH POLICYHOLDER, THE AMOUNT OF ALL
RECOUPMENTS IN ANY GIVEN YEAR MAY NOT EXCEED A FULL YEAR'S
PREMIUM CALCULATED AS OF THE POLICY ANNIVERSARY NEXT PRECEDING
THE TIME OF ASSESSMENT.

603.

(A)  (1) THE COMMISSIONER MAY REVIEW THE OPERATIONS OF THE
ASSOCIATION.

(2)  THE COMMISSIONER MAY:

(I)  EXAMINE THE OPERATIONS AND ALL THE BOOKS,
RECORDS, FILES, PAPERS, AND DOCUMENTS THAT RELATE TO OPERATIONS
OF THE ASSOCIATION; AND

(II)  SUMMON, QUALIFY, AND EXAMINE AS WITNESSES
ALL PERSONS HAVING KNOWLEDGE OF THE OPERATIONS, INCLUDING
OFFICERS, AGENTS, OR EMPLOYEES.

(3)  THE REPORTS, COMMUNICATIONS, AND RECORDS OF THE
ASSOCIATION ARE NOT PUBLIC DOCUMENTS.

(B)  THE COMMISSIONER MAY REQUIRE REPORTS FROM MEMBER
INSURERS CONCERNING RISKS INSURED UNDER ANY PROGRAM APPROVED
UNDER THIS SUBTITLE.

(C) IN ADDITION TO ANY POWERS CONFERRED UPON THE

COMMISSIONER BY THIS OR ANY OTHER LAW, THE COMMISSIONER MAY DO
ALL THINGS NECESSARY TO ENABLE THE STATE AND ANY INSURER
PARTICIPATING IN ANY PROGRAM APPROVED BY THE COMMISSIONER TO
FULLY PARTICIPATE IN ANY FEDERAL PROGRAM OF REINSURANCE WHICH MAY