Ch. 764

LAWS OF MARYLAND

[(5)] (E) On the initial application by the Commissioner
for an order appointing him conservator, rehabilitator, or
receiver under this subtitle, or at any time during the course of
a conservatorship, rehabilitation, or receivership under this
subtitle, the court, on its own motion or on the motion of the
Commissioner, may issue an order appointing or substituting a
person other than the Commissioner as conservator, rehabilitator,
or receiver. Any person so appointed shall have the same powers
and duties afforded the Commissioner under this subtitle as
statutory conservator, rehabilitator, or receiver.

(F) (1) IN THIS SUBSECTION, "APPOINTED CONSERVATOR,
REHABILITATOR, OR RECEIVER" MEANS ANY PERSON OTHER THAN THE
COMMISSIONER THAT HAS BEEN APPOINTED AS A CONSERVATOR,
REHABILITATOR, OR RECEIVER BY THE COURT UNDER SUBSECTION (E) OF
THIS SECTION.

(2)  (I) THE COMMISSIONER MAY REQUIRE ANY APPOINTED
CONSERVATOR, REHABILITATOR, OR RECEIVER TO FILE WITH THE
COMMISSIONER AND THE COURT A PERIODIC REPORT ON:

1.  THE STATUS OF THE CONSERVATORSHIP,
REHABILITATION, OR RECEIVERSHIP; AND

2.  THE ACTIVITIES OF THE APPOINTED
CONSERVATOR, REHABILITATOR, OR RECEIVER SINCE THE LAST REPORT
FILED UNDER THIS SUBPARAGRAPH.

(II)  THE FREQUENCY AND CONTENT OF ANY REPORT
REQUIRED UNDER THIS PARAGRAPH SHALL BE DETERMINED BY THE
COMMISSIONER AND THE COURT.

(III)  ANY REPORT REQUIRED UNDER THIS PARAGRAPH
SHALL BE IN ADDITION TO ANY OTHER REPORTS REQUIRED BY THE COURT.

(3)  THE COMMISSIONER AND ANY GUARANTY ASSOCIATION
WHICH MAY BE OBLIGATED TO PAY ANY CLAIMS DURING THE
CONSERVATORSHIP, REHABILITATION, OR RECEIVERSHIP SHALL HAVE FULL
ACCESS TO ALL DOCUMENTS AND RECORDS RELATED TO THE
CONSERVATORSHIP, REHABILITATION, OR RECEIVERSHIP THAT ARE IN THE
POSSESSION OF THE APPOINTED CONSERVATOR, REHABILITATOR, OR
RECEIVER.

(4)  THE COMMISSIONER MAY BE A PARTY TO ANY
CONSERVATORSHIP, REHABILITATION, OR RECEIVERSHIP.

(5)  (I) THE COMMISSIONER AND ANY GUARANTY ASSOCIATION
WHICH MAY BE OBLIGATED TO PAY ANY CLAIMS DURING THE
CONSERVATORSHIP, REHABILITATION, OR RECEIVERSHIP MAY NEGOTIATE
FOR THE SALE OF ALL OR ANY PART OF THE ASSETS OR OF THE BOOK OF
BUSINESS OF THE INSURER PLACED IN CONSERVATORSHIP,
REHABILITATION, OR RECEIVERSHIP.

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