WILLIAM DONALD SCHAEFER, Governor Ch. 396

(5)  A COPY OF EACH EXAMINATION OF THE RISK RETENTION
GROUP AS CERTIFIED BY THE COMMISSIONER OR PUBLIC OFFICIAL
CONDUCTING THE EXAMINATION;

(6)  UPON REQUEST OF THE COMMISSIONER, A COPY OF ANY
AUDIT PERFORMED WITH RESPECT TO THE RISK RETENTION GROUP; AND

(7)  ANY OTHER INFORMATION AS THE COMMISSIONER MAY
REQUIRE IN ORDER TO VERIFY ITS CONTINUING QUALIFICATION AS A RISK
RETENTION GROUP UNDER SECTION § 617(K) OF THIS SUBTITLE.

(B)  (1) ALL PREMIUMS PAID WITHIN THIS STATE TO RISK
RETENTION GROUPS FOR COVERAGES SHALL BE SUBJECT TO TAXATION AT
THE SAME RATE AND SHALL BE SUBJECT TO THE SAME INTEREST, FINES,
AND PENALTIES FOR NONPAYMENT AS ARE FOREIGN ADMITTED INSURERS.

(2)  IN ANY INSTANCE IN WHICH AGENTS OR BROKERS ARE
UTILIZED, THE AGENTS OR BROKERS SHALL REPORT AND PAY THE TAXES
FOR THE PREMIUMS FOR RISKS WHICH THEY HAVE PLACED WITH OR ON
BEHALF OF A RISK RETENTION GROUP.

(3)  IN ANY INSTANCE IN WHICH AGENTS OR BROKERS ARE
NOT UTILIZED, OR FAIL TO PAY THE TAX, THE RISK RETENTION GROUP
SHALL PAY THE TAX FOR RISKS INSURED WITHIN THIS STATE.

(4)  ON OR BEFORE MARCH 1 OF EACH CALENDAR YEAR, EACH
RISK RETENTION GROUP SHALL REPORT ALL PREMIUMS PAID TO IT FOR
RISKS INSURED WITHIN THE STATE.

(C)  ALL RISK RETENTION GROUPS, THEIR AGENTS, AND
REPRESENTATIVES SHALL COMPLY WITH THE PROVISIONS OF § 230A OF
THIS ARTICLE, "UNFAIR CLAIM SETTLEMENT PRACTICES".

(D)  (1) ALL RISK RETENTION GROUPS, THEIR AGENTS, AND
REPRESENTATIVES SHALL COMPLY WITH ALL APPLICABLE INSURANCE LAWS
OF THIS STATE REGARDING DECEPTIVE, FALSE OR FRAUDULENT ACTS OR
PRACTICES.

(2) IF THE COMMISSIONER SEEKS AN INJUNCTION REGARDING
SUCH CONDUCT, THE INJUNCTION SHALL BE OBTAINED FROM A COURT OF
COMPETENT JURISDICTION.

(E)  (1) A RISK RETENTION GROUP SHALL SUBMIT TO AN
EXAMINATION BY THE COMMISSIONER TO DETERMINE ITS FINANCIAL
CONDITION IF THE COMMISSIONER OF THE JURISDICTION IN WHICH THE
GROUP IS CHARTERED HAS NOT INITIATED AN EXAMINATION OR DOES NOT
INITIATE AN EXAMINATION WITHIN 60 DAYS AFTER A REQUEST BY THE
COMMISSIONER OF THIS STATE.

(2) ANY EXAMINATION SHALL BE COORDINATED TO AVOID
UNJUSTIFIED REPETITION AND CONDUCTED IN AN EXPEDITIOUS MANNER AND
IN ACCORDANCE WITH THE NATIONAL ASSOCIATION OF INSURANCE
COMMISSIONER'S EXAMINER HANDBOOK.

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