Ch. 11

1996 LAWS OF MARYLAND

(IV) COPIES OF ANY ACTUARIAL OR OTHER EVALUATIONS OF THE
INSURANCE BUSINESS AND ASSETS UNDER THE CONTROL OF THE. APPOINTED
RECEIVER.

(3) THE REPORT SHALL BE AUDITED UNLESS FOR GOOD CAUSE THE
COURT WAIVES THE AUDIT.

(D)     INFORMATION UNDER SEAL.

SUBJECT TO ANY PROTECTIVE ORDER THAT THE COURT CONSIDERS
APPROPRIATE, INFORMATION FILED UNDER SEAL SHALL BE PROVIDED TO BOTH
THE COMMISSIONER AND THE AFFECTED GUARANTY ASSOCIATION.

(E)     ACCESS TO DOCUMENTS AND RECORDS.

THE APPOINTED RECEIVER SHALL GIVE THE COMMISSIONER AND ANY
GUARANTY ASSOCIATION THAT MAY BE OBLIGATED TO PAY CLAIMS DURING THE
CONSERVATORSHIP, REHABILITATION, OR RECEIVERSHIP FULL ACCESS TO ALL
DOCUMENTS AND RECORDS RELATED TO THE CONSERVATORSHIP,
REHABILITATION, OR RECEIVERSHIP THAT ARE IN THE POSSESSION OF THE
APPOINTED RECEIVER.

(F)      COMMISSIONER AS PARTY.

THE COMMISSIONER MAY BE A PARTY TO A CONSERVATORSHIP,
REHABILITATION, OR RECEIVERSHIP FOR WHICH THERE IS AN APPOINTED
RECEIVER.

(G)     NEGOTIATION FOR SALE OF ASSETS.

(1)      SUBJECT TO APPROVAL OF. THE COURT, THE COMMISSIONER AND
ANY GUARANTY ASSOCIATION THAT MAY BE OBLIGATED TO PAY CLAIMS DURING
THE CONSERVATORSHIP, REHABILITATION, OR RECEIVERSHIP MAY NEGOTIATE
FOR SALE OF ALL OR PART OF THE ASSETS OR BOOK OF BUSINESS OF THE INSURER
PLACED IN CONSERVATORSHIP, REHABILITATION, OR RECEIVERSHIP.

(2)      THE APPOINTED RECEIVER:

(I)       SHALL COOPERATE FULLY IN ANY SALES NEGOTIATION
UNDER PARAGRAPH (1) OF THIS SUBSECTION; AND

(II)     MAY OBJECT TO THE TERMS OF A SALE OF THE ASSETS OR
BOOK OF BUSINESS OF THE INSURER THAT RESULTS FROM THE NEGOTIATION.

(3)      AFTER NOTICE AND AN OPPORTUNITY TO BE HEARD, THE COURT
MAY LIMIT THE EFFORTS OF THE COMMISSIONER OR GUARANTY ASSOCIATION TO
UNDERTAKE OR CONTINUE NEGOTIATIONS FOR THE SALE OF THE ASSETS OR BOOK
OF BUSINESS OF THE INSURER IF THE NEGOTIATIONS WOULD IMPAIR THE ABILITY
OF THE APPOINTED RECEIVER TO ENGAGE IN SIMILAR NEGOTIATIONS OR
DISCHARGE OTHER RESPONSIBILITIES.

(H) DISCHARGE OF APPOINTED RECEIVER.

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