Ch. 564

LAWS OF MARYLAND

[Association] CORPORATION fails to submit suitable amendments to
the plan, the Commissioner shall, after notice and hearing, adopt
and promulgate such reasonable rules as are necessary or
advisable to effectuate the provisions of this subtitle. Such
rules shall continue in force until modified by the Commissioner
or superseded by a plan submitted by the [Association]
CORPORATION and approved by the Commissioner.

(2)  All member insurers shall comply with the plan of
operation.

(3)  The plan of operation shall, in addition to
requirements enumerated elsewhere in this subtitle[,]:

(a)  Establish procedures for handling the assets of
the [Association.] CORPORATION;

(b)  Establish the amount and method of reimbursing
members of the board of directors under § 526[.] OF THIS
SUBTITLE;

(c)  Establish regular places and times for meetings
of the board of directors[.];

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

(e)  Establish the procedures whereby selections for
the board of directors will be made and submitted to the
Commissioner[.] ;

(f)  Establish any additional procedures for
assessments under § 528[.] OF THIS SUBTITLE; AND

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

(4)  The plan of operation may provide that any or all
powers and duties of the [Association] CORPORATION, except those
under §§ 527(11)(c) and 528 OF THIS SUBTITLE, 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, in [two] 2 or more states. Such
a corporation, association, or organization shall be reimbursed
for any payments made on behalf of the [Association] CORPORATION
and shall be paid for its performance of any function 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

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