PARRIS N. GLENDENING, Governor

Ch. 36

The second sentence of former Art. 48A, § 26(1), which provided that a
regulation may not "extend, modify, or conflict with any provision of this
article or the reasonable implications thereof", is deleted as unnecessary in
light of well established principles of administrative law.

The fourth sentence of former Art. 48A, § 26(1), which required that the
Commissioner before adopting, amending, or repealing regulations "publish
or otherwise circulate notice of the nature and purpose of his intended action
and afford interested persons opportunity to submit data or views orally or in
writing", is deleted as unnecessary in light of SG §§ 10-111 and 10-112.

Former Art. 48A, § 26(4), which required the Commissioner to comply with
SG §§ 10-106 and 10-107, is deleted as unnecessary since the Commissioner is
required to comply with those sections in any event, and as potentially
misleading since it implied that the Commissioner is required to comply only
with those sections. In fact, the Commissioner is required to comply with all
provisions of SG Title 10, Subtitle 1.

Defined terms: "Commissioner" § 1-101
"Domestic insurer" § 1-101
"Person" § 1-101
"Stock insurer" § 1-101

2-110. REPORTS.

(A) ANNUAL REPORTS.

AS EARLY IN EACH FISCAL YEAR AS IS REASONABLY POSSIBLE THE
COMMISSIONER SHALL PREPARE AN ANNUAL REPORT ABOUT THE PREVIOUS
FISCAL YEAR THAT INCLUDES:

(1)     A LIST OF THE AUTHORIZED INSURERS TRANSACTING INSURANCE
BUSINESS IN THE STATE, WITH ANY SUMMARY OF THEIR FINANCIAL STATEMENTS
THAT THE COMMISSIONER CONSIDERS APPROPRIATE;

(2)     THE NAME OF EACH INSURER WHOSE BUSINESS WAS CLOSED
DURING THE YEAR, THE CAUSE OF THE CLOSURE, AND THE AMOUNT OF ASSETS
AND LIABILITIES OF THE INSURER THAT IS ASCERTAINABLE;

(3)     THE NAME OF EACH INSURER AGAINST WHOM DELINQUENCY OR
SIMILAR PROCEEDINGS WERE INITIATED, A CONCISE STATEMENT OF FACTS ABOUT
EACH DELINQUENCY OR SIMILAR PROCEEDING, AND THE STATUS OF EACH
PROCEEDING;

(4)     A STATEMENT OF ALL FEES, TAXES, AND ADMINISTRATIVE FINES
AND PENALTIES RECEIVED BY THE COMMISSIONER AND DEPOSITED INTO THE
GENERAL FUND OF THE STATE;

(5)     THE RATIO OF COMPLAINTS FILED DURING THE CALENDAR YEAR
AGAINST EACH INSURER FOR EACH MAJOR LINE OF INSURANCE WRITTEN BY THE
INSURER AND A SUMMARY OF THE RESOLUTION OF THE COMPLAINTS;

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