Ch. 339                                    1995 LAWS OF MARYLAND

(2) PROMPTLY SUBMIT TO THE COMMISSIONER A COPY OF ANY RBC
PLAN OR REVISED RBC PLAN THAT THE INSURER HAS FILED WITH THE INSURANCE
COMMISSIONER OF ANY OTHER STATE.

(B) (1) THE COMMISSIONER MAY REQUIRE THE FOREIGN INSURER TO FILE
AN RBC PLAN WITH THE COMMISSIONER IN THE EVENT OF A COMPANY ACTION
LEVEL EVENT, REGULATORY ACTION LEVEL EVENT, OR AUTHORIZED CONTROL
LEVEL EVENT WITH RESPECT TO ANY FOREIGN INSURER:

(I)      UNDER THE RISK BASED CAPITAL STATUTE OF THE INSURER'S
STATE OF DOMICILE IF THE INSURANCE COMMISSIONER OF THAT STATE FAILS TO
REQUIRE THE FOREIGN INSURER TO FILE AN RBC PLAN IN ACCORDANCE WITH
THAT STATE'S RISK BASED CAPITAL STATUTE; OR

(II)    UNDER THIS SUBTITLE IF NO RISK BASED CAPITAL STATUTE IS
IN FORCE IN THE INSURER'S STATE OF DOMICILE.

(2) IF THE FOREIGN INSURER FAILS TO FILE AN RBC PLAN WITH THE
COMMISSIONER UNDER THIS SUBSECTION, THE COMMISSIONER MAY ORDER THE
INSURER TO CEASE AND DESIST FROM WRITING NEW INSURANCE BUSINESS IN THIS
STATE.

(C) IF A MANDATORY CONTROL LEVEL EVENT OCCURS WITH RESPECT TO
ANY FOREIGN INSURER AND NO DOMICILIARY RECEIVER HAS BEEN APPOINTED
WITH RESPECT TO. THAT FOREIGN INSURER UNDER THE REHABILITATION AND
LIQUIDATION STATUTE APPLICABLE IN THE INSURER'S STATE OF DOMICILE, THE
COMMISSIONER MAY FILE AN ACTION IN THE CIRCUIT COURT OF BALTIMORE CITY
UNDER SUBTITLE 10 OF THIS ARTICLE TO SEEK THE LIQUIDATION OF ANY
PROPERTY OF THE FOREIGN INSURER FOUND IN THE STATE.

750.

THERE SHALL BE NO LIABILITY ON THE PART OF, AND NO CAUSE OF ACTION
SHALL ARISE AGAINST, THE COMMISSIONER OR THE MARYLAND INSURANCE
ADMINISTRATION OR ITS EMPLOYEES OR AGENTS FOR ANY ACTION TAKEN BY
THEM IN THE PERFORMANCE OF THEIR POWERS AND DUTIES UNDER THIS
SUBTITLE.

751.

ALL NOTICES BY THE COMMISSIONER TO AN INSURER WHICH THAT MAY
RESULT IN REGULATORY ACTION UNDER THIS SUBTITLE SHALL BE EFFECTIVE:

(1)      IF TRANSMITTED BY REGISTERED OR CERTIFIED MAIL, ON THE
DATE OF MAILING; OR

(2)     IF TRANSMITTED BY ANY OTHER MEANS, ON THE DATE OF THE
INSURER'S RECEIPT OF THE NOTICE.

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