Ch. 36                                          1995 LAWS OF MARYLAND

8-311. AGREEMENT BETWEEN ADMINISTRATOR AND PLAN SPONSOR OR INSURER.

(A)     REQUIRED.

A PERSON MAY NOT ACT AS AN ADMINISTRATOR WITHOUT A WRITTEN
AGREEMENT BETWEEN THE ADMINISTRATOR AND THE PLAN SPONSOR OR
INSURER.

(B)     ADMINISTRATOR TO RETAIN AGREEMENT.

AN ADMINISTRATOR SHALL RETAIN THE AGREEMENT REQUIRED BY THIS
SECTION AS AN OFFICIAL RECORD OF THE ADMINISTRATOR FOR THE DURATION OF
THE AGREEMENT AND FOR 3 YEARS AFTER TERMINATION OF THE AGREEMENT.

REVISOR'S NOTE: This section formerly was Art. 48A, § 687(a) and (b).

The only changes are in style.

Defined terms: "Administrator" § 8-301
"Insurer" § 1-101
"Person" § 1-101
"Plan sponsor" § 8-301

8-312. BOOKS AND RECORDS ABOUT PLAN.

(A)     IN GENERAL.

AN ADMINISTRATOR SHALL MAINTAIN ADEQUATE BOOKS AND RECORDS
ABOUT EACH PLAN ADMINISTERED BY THE ADMINISTRATOR:

(1)      IN ACCORDANCE WITH PRUDENT STANDARDS OF RECORD
KEEPING; AND

(2)      FOR THE DURATION OF THE AGREEMENT REQUIRED BY § 8-311 OF
THIS SUBTITLE.

(B)     ACCESS OF PLAN SPONSOR OR INSURER.

SUBJECT TO ANY RESTRICTIONS IN THE AGREEMENT REQUIRED BY § 8-311 OF
THIS SUBTITLE ON THE PROPRIETARY RIGHTS OF THE PARTIES IN THE BOOKS AND
RECORDS, THE PLAN SPONSOR OR INSURER HAS THE RIGHT TO REASONABLE
ACCESS TO THE BOOKS AND RECORDS THAT IS SUFFICIENT TO ALLOW THE PLAN
SPONSOR OR INSURER TO FULFILL ITS CONTRACTUAL OBLIGATIONS TO THE PLAN
PARTICIPANTS AND BENEFICIARIES.

(C)     WHEN ADMINISTRATOR CEASES TO ADMINISTER PLAN.

IF AN ADMINISTRATOR CEASES TO ADMINISTER A PLAN, THE
ADMINISTRATOR:

(1) SHALL DELIVER THE BOOKS AND RECORDS ABOUT THE PLAN THAT
ARE IN THE ADMINISTRATOR'S POSSESSION TO THE ADMINISTRATOR'S SUCCESSOR
OR TO THE PLAN SPONSOR; OR

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