WILLIAM DONALD SCHAEFER, Governor

Ch. 29

the Insurance Commissioner at certain times; clarifying
certain membership and ownership requirements for risk
retention groups; clarifying certain licensing requirements
for risk retention groups; providing that risk retention
groups chartered and licensed in other states provide
certain revisions of certain studies to the Commissioner at
certain times; providing that the Commissioner may determine
certain fees; providing that certain notice shall be placed
upon certain forms and policies; providing for the payment
of certain taxes; providing that certain agents and brokers
must maintain certain records; and generally relating to
risk retention groups and purchasing groups.

BY repealing and reenacting, with amendments,

Article 48A - Insurance Code

Section 617(h) and (k), 618, 619, 623, 624, 628, and 629

Annotated Code of Maryland

(1986 Replacement Volume and 1987 Supplement)

(As enacted by Chapter 396 of the Acts

of the General Assembly of 1987)

BY adding to

Article 48A - Insurance Code

Section 625A

Annotated Code of Maryland

(1986 Replacement Volume and 1987 Supplement)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the Laws of Maryland read as follows:

Article 48A - Insurance Code

617,

(h) "Plan of operation or feasibility study" means an
analysis which presents the expected activities and results of a
risk retention group, including, at a minimum:

(1) INFORMATION SUFFICIENT TO VERIFY THAT ITS MEMBERS
ARE ENGAGED IN BUSINESSES OR ACTIVITIES SIMILAR OR RELATED WITH
RESPECT TO THE LIABILITY TO WHICH SUCH MEMBERS ARE EXPOSED BY
VIRTUE OF ANY RELATED, SIMILAR, OR COMMON BUSINESS, TRADE,
PRODUCT, SERVICES, PREMISES, OR OPERATIONS;

[(1)] (2) [The] FOR EACH STATE IN WHICH IT INTENDS TO
OPERATE, THE coverages, deductibles, coverage limits, rates, and
rating classification systems for each line of insurance the
group intends to offer;

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