740

LAWS OF MARYLAND

Ch. 161

(4) Establish procedures by which claims may be filed
with the [Association] CORPORATION and establish acceptable forms
of proof of covered claims. Notice of claims to the receiver or
liquidator of the insolvent insurer shall be deemed notice to the
[Association] CORPORATION or its agent and a list of such claims
shall be periodically submitted to the [Association] CORPORATION
by the receiver or liquidator.

(5) Establish regular places and times for meetings
of the board of directors.

(6) Establish procedures for records to be kept in
all financial transactions of the [Association] CORPORATION, its
agents, and the board of directors.

(7) Provide that any member insurer aggrieved by any
final action or decision of the [Association] CORPORATION may
appeal to the Commissioner within 30 days after the action or
decision.

(8) Contain additional provisions necessary or proper
for the execution of the powers and duties of the [Association]
CORPORATION.

(d) The plan of operation may provide that any or all
powers and duties of the [Association] CORPORATION except those
under §§ 508(a)(3) and 508(b)(2), are delegated to a corporation,
association, or other organization which performs or will perform
functions similar to those of this [Association] CORPORATION, or
its equivalent. Such a corporation, association or organization
shall be reimbursed as a servicing facility would be reimbursed
and shall be paid for its performance of the functions of the
[Association] CORPORATION. A delegation under this subsection
shall take effect only with the approval of both the board of"
directors and the Commissioner, and may be made only to a
corporation, association, or organization which extends
protection not substantially less favorable and effective than
that provided by this subtitle.

510.

(a) The Commissioner shall;

(1) Notify the [Association] CORPORATION of the
existence of an insolvent insurer not later than 3 days after he
received notice of the determination of the insolvency.

(2) Upon request of the board of directors, provide
the [Association] CORPORATION with a statement of the net direct
written premiums of each member insurer.

(b) The Commissioner may;

(1) Require that the [Association] CORPORATION notify
the insureds of the insolvent insurer and any other interested