WILLIAM DONALD SCHAEFER, Governor                      Ch. 29

[(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) (3) 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] RESIDENT OR LOCATED WITHIN THIS
State.

(5) IF THE TAXES IMPOSED UNDER THIS SECTION ARE NOT
PAID BY THE RISK RETENTION GROUP, THE TAXES SHALL BE PAID BY THE
AGENT OR BROKER FOR THE RISK RETENTION GROUP.

(6) IF THE AGENT OR BROKER IDENTIFIED IN PARAGRAPH
(B)(5) FAILS TO PAY THE SPECIFIED TAXES, OR IF THE RISK RETENTION
GROUP DOES NOT USE AN AGENT OR BROKER,

(4) IF THE RISK RETENTION GROUP FAILS TO PAY THE
SPECIFIED TAXES, THE TAXES SHALL BE PAID BY THE GROUP'S MEMBERS
WHOSE RISKS ARE RESIDENT OR LOCATED IN THIS 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 AND LICENSED 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.

(f)   [Any] EVERY APPLICATION FORM FOR INSURANCE FROM A RISK
RETENTION GROUP, AND EVERY policy issued by a risk retention
group for or on behalf of residents of this State shall contain,
in 10 point type on the front page and the declaration page, the
following notice:

"Notice

- 1503 -