Ch. 585

LAWS OF MARYLAND

the State Accident Fund, including those incurred in attending
meetings of the commissioners.

(b)  (1) The commissioners of the State Accident Fund
shall[, subject to approval by the Secretary of Personnel,]
appoint a superintendent and an assistant superintendent to
assist him in his duties, both of whom shall receive such salary
as may be provided for in the budget. The present personnel
employed in the operation of the State Accident Fund, including
the superintendent and assistant superintendent, shall be
transferred to the agency hereby created and retain their rights
and status under Article 64A of the Code, entitled "Merit
System," and . future FUTURE appointments of such employees as
are provided for in the budget, including the superintendent and
assistant superintendent, shall be made by said commissioners in
accordance with said Article 64A . ; AND

(2) THE PROVISIONS OF ARTICLE 64A, § 35 OF THE CODE,
HOWEVER, SHALL NOT APPLY TO THE STATE ACCIDENT FUND TO THE EXTENT
THAT THE PROVISIONS RELATE TO THE LAYING OFF AND REINSTATEMENT OF
UNCLASSIFIED EMPLOYEES. THE COMPENSATION OF UNCLASSIFIED
EMPLOYEES SHALL BE AS DETERMINED BY THE COMMISSIONERS AND SHALL
BE IN ACCORDANCE WITH THE STATE PAY PLAN WHEN POSSIBLE. PRESENT

EMPLOYEES OF THE STATE ACCIDENT FUND WHO ARE IN THE MERIT SYSTEM
SHALL REMAIN IN THE MERIT SYSTEM AND SHALL RETAIN THEIR RIGHTS
AND STATUS UNDER ARTICLE 64A OF THE CODE.

(c)  The commissioners of the State Accident Fund shall make
a report to the Governor [and the Secretary of Personnel]
annually, within ninety days after the close of the State's
fiscal year, which shall likewise be the fiscal year of the State
Accident Fund, which report shall include a detailed statement of
the expenses and of the condition of the State Accident Fund.

[(d) At his discretion, the Legislative Auditor may
conduct an annual audit of a fiscal and compliance nature of the
accounts and transactions of the State Accident Fund in place of
conducting these audits on a biennial basis. Officials of the
State Accident Fund shall be advised whether annual or biennial
audits will be conducted. The cost of the fiscal portion of the
post audit examinations shall be borne by the State Accident
Fund.]

(D) THE COMMISSIONERS SHALL ANNUALLY OBTAIN AN OPINION OF
THE FUND'S FINANCIAL CONDITION FROM AN INDEPENDENT AUDITOR.

(E) AT LEAST ONCE EVERY 3 YEARS, THE COMMISSIONERS SHALL
OBTAIN AN OPINION OF THE FUND'S FINANCIAL CONDITION FROM AN
INDEPENDENT AUDITOR AND CONSULTING ACTUARY. THE COMMISSIONERS
SHALL REPORT THE RESULTS OF THE AUDIT TO THE GOVERNOR, THE STATE
INSURANCE COMMISSIONER, AND THE JOINT BUDGET AND AUDIT COMMITTEES
OF THE GENERAL ASSEMBLY AS SOON AS POSSIBLE AFTER THE END OF THE
FISCAL YEAR.

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