PARRIS N. GLENDENING, Governor

Ch. 475

Section 10-123

Annotated Code of Maryland

(As enacted by Chapter____(H.B. 11) of the Acts of the General Assembly of

1995)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the Laws of Maryland read as follows:

Article 48A - Insurance Code

55.

(2) The Commissioner may refuse to issue or after a hearing refuse to renew, or
may revoke or suspend on insurer's certificate of authority, in addition to other grounds
therefor in this article, if the insurer:

(v) 1. Refuses to be examined or to produce its accounts, records and
files for examination by the Commissioner when required; or refuses to furnish such other
additional information as the Commissioner may deem advisable to consider the
application for renewal of such insurer's certificate of authority; OR

2. FAILS TO COMPLY WITH RECOMMENDATIONS OF THE
COMMISSIONER IN A REPORT OF EXAMINATION.

58B.

(A)    THE COMMISSIONER MAY NOT RECOGNIZE ANY PERSON AS A QUALIFIED
INDEPENDENT CERTIFIED PUBLIC ACCOUNTANT UNLESS THE PERSON:

(1)     IS IN GOOD STANDING:

(I) WITH THE AMERICAN INSTITUTE OF CERTIFIED PUBLIC
ACCOUNTANTS; AND

(I) WITH THE MARYLAND STATE BOARD OF PUBLIC
ACCOUNTANCY; AND

(II) IN ALL STATES WITH THE APPROPRIATE STATE BOARD OF
ACCOUNTANCY OF ANY OTHER STATE IN WHICH THE ACCOUNTANT IS LICENSED TO
PRACTICE; OR

(2)      IN THE CASE OF A CANADIAN OR BRITISH ACCOUNTANT, IS A
CHARTERED ACCOUNTANT.

(B)     EXCEPT AS OTHERWISE PROVIDED IN THIS SECTION, AN INDEPENDENT
CERTIFIED PUBLIC ACCOUNTANT SHALL BE RECOGNIZED AS QUALIFIED AS LONG
AS THE ACCOUNTANT CONFORMS TO:

(1) FOR ANY CERTIFIED PUBLIC ACCOUNTANT NOT LICENSED IN THIS
STATE, THE STANDARDS OF THE ACCOUNTANCY PROFESSION, AS CONTAINED IN
THE CODE OF PROFESSIONAL ETHICS OF THE AMERICAN INSTITUTE OF CERTIFIED
PUBLIC ACCOUNTANTS; OR

- 2693 -