Ch. 749                                        1994 LAWS OF MARYLAND

AMOUNT AS TO WHICH THE 1.2% CREDIT UNDER SUBSECTION (B) OF THIS SECTION
APPLIES BY THE COST OF LIVING ADJUSTMENT FOR THE FISCAL YEAR AS
DETERMINED UNDER PARAGRAPH (3) OF THIS SUBSECTION.

(3) FOR PURPOSES OF THIS SUBSECTION, THE COST OF LIVING
ADJUSTMENT FOR ANY FISCAL YEAR IS THE PERCENTAGE BY WHICH THE
CONSUMER PRICE INDEX FOR THE CALENDAR YEAR THAT ENDED DECEMBER 31 OF
THE PRECEDING FISCAL YEAR EXCEEDS THE CONSUMER PRICE INDEX FOR
CALENDAR YEAR 1993.

(4) IF ANY INCREASE DETERMINED UNDER PARAGRAPH (2) OF THIS
PARAGRAPH IS NOT A MULTIPLE OF $100, THE INCREASE SHALL BE ROUNDED TO
THE NEXT LOWEST MULTIPLE OF $100.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect
July 1, 1994 1995.

Approved May 26, 1994.

CHAPTER 749
(Senate Bill 165)

AN ACT concerning

Insurance - Examination Charges and Licensing Fees-----Alterations, Corrections, and

Clarifications Policy Fees

FOR the purpose of clarifying statutory authority for the imposition of certain charges
and fees and retention of certain funds; providing for the examination of certain
third party administrators and recovery of the expense of examination; repealing a
certain offset from premium tax; requiring certain self insurance groups to file
certain information; altering certain fees for certain insurance licenses, certificates,
and filings; correcting the omission of certain fees; allowing certain fees imposed by
surplus line brokers; requiring that certain fees are subject to a certain premium tax;
and generally relating to fees collected by the Insurance Commissioner authorizing
surplus line brokers to charge certain policy fees under certain circumstances; requiring
policy fees to be reasonably related to certain costs associated with processing and
servicing policies by surplus line brokers; imposing certain limitations on the charging of
policy fees; requiring a certain disclosure, on a form approved by the Insurance
Commissioner, to be made by surplus line brokers; and generally relating to fees charged
by certain surplus line brokers.

BY repealing and reenacting, with amendments,

Article 48A - Insurance Code

Section 31, 33, 41(4) and (19), 194(a), 195, 230, 486B(a)(1), 609(c), 619(a), and
624(a) 230

Annotated Code of Maryland

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