PARRIS N. GLENDENING, Governor

Ch. 36

(II) IS BASED ON AN ACTION REQUIRED BY THIS SECTION.
(H) SAME — DISCLOSURE.

(1)      THE COMMISSIONER MAY RELEASE A MEMORANDUM OR OTHER
MATERIAL PROVIDED TO THE COMMISSIONER:

(I)      WITH THE WRITTEN CONSENT OF THE LIFE INSURER,
NONPROFIT HEALTH SERVICE PLAN, OR FRATERNAL BENEFIT SOCIETY THAT
PROVIDES THE MEMORANDUM OR MATERIAL; OR

(II)     TO THE AMERICAN ACADEMY OF ACTUARIES, IF THE
ACADEMY:

1.        REQUESTS THE MEMORANDUM OR OTHER MATERIAL
FOR PROFESSIONAL DISCIPLINARY PROCEEDINGS; AND

2.        SETS FORTH PROCEDURES SATISFACTORY TO THE
COMMISSIONER TO PRESERVE THE CONFIDENTIALITY OF THE MEMORANDUM OR
OTHER MATERIAL.

(2)      ALL PARTS OF A MEMORANDUM OR OTHER MATERIAL ARE NO
LONGER CONFIDENTIAL IF ANY PART OF THE MEMORANDUM OR MATERIAL IS:

(I)       CITED BY THE LIFE INSURER, NONPROFIT HEALTH SERVICE
PLAN, OR FRATERNAL BENEFIT SOCIETY IN ITS MARKETING;

(II)     CITED BEFORE A GOVERNMENTAL UNIT OTHER THAN A STATE
INSURANCE DEPARTMENT; OR

(III)    RELEASED BY THE LIFE INSURER, NONPROFIT HEALTH
SERVICE PLAN, OR FRATERNAL BENEFIT SOCIETY TO THE NEWS MEDIA.

(I) LIABILITY OF ACTUARY.

EXCEPT FOR FRAUD, WILLFUL MISCONDUCT, OR GROSS NEGLIGENCE, A
QUALIFIED ACTUARY IS NOT LIABLE FOR DAMAGES TO ANY PERSON OTHER THAN
THE LIFE INSURER, NONPROFIT HEALTH SERVICE PLAN, FRATERNAL BENEFIT
SOCIETY, OR THE COMMISSIONER FOR ANY ACT, ERROR, OMISSION, DECISION, OR
CONDUCT RELATED TO AN OPINION THAT THE QUALIFIED ACTUARY ISSUES UNDER
THIS SECTION.

(J) DISCIPLINARY ACTION.

THE COMMISSIONER SHALL ADOPT REGULATIONS TO ESTABLISH
DISCIPLINARY ACTION AGAINST A LIFE INSURER, NONPROFIT HEALTH SERVICE
PLAN, FRATERNAL BENEFIT SOCIETY, OR QUALIFIED ACTUARY THAT VIOLATES
THIS SECTION.

REVISOR'S NOTE: Subsections (a)(1) and (3) and (b)(2) through (j) of this
section are new language derived without substantive change from former Art.
48A, §§ 77(b) and 83A.

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