Ch. 11

1996 LAWS OF MARYLAND

Defined terms: "Account" § 9-301

"Certificate of authority" § 1-101

"Commissioner" § 1-101

"Corporation" § 9-301

"Covered claim" § 9-301

"Insolvent insurer" § 9-301

"Insurance" § 1-101

"Insurance business" § 1-101

"Insurer" § 1-101

"Member insurer" § 9-301

"Net direct written premiums" § 9-301

"Person" § 1-101

"Policy" § 1-101

"Premium" § 1-101

"Surety bond" § 9-301

9-307. PLAN OF OPERATION.

(A)     IN GENERAL.

(1)      (I) THE CORPORATION SHALL SUBMIT TO THE COMMISSIONER A
PLAN OF OPERATION AND ANY AMENDMENTS TO IT NECESSARY OR SUITABLE TO
ENSURE THE FAIR, REASONABLE, AND EQUITABLE ADMINISTRATION OF THE
CORPORATION.

(II) THE PLAN OF OPERATION AND ANY AMENDMENTS TO IT TAKE
EFFECT WHEN APPROVED IN WRITING BY THE COMMISSIONER.

(2)      (I) IF THE CORPORATION FAILS TO SUBMIT SUITABLE
AMENDMENT TO THE PLAN OF OPERATION, THE COMMISSIONER, AFTER NOTICE
AND HEARING, SHALL ADOPT REASONABLE REGULATIONS AS NECESSARY OR
ADVISABLE TO CARRY OUT THIS SUBTITLE.

(II) REGULATIONS ADOPTED UNDER THIS PARAGRAPH SHALL
CONTINUE IN EFFECT UNTIL MODIFIED BY THE COMMISSIONER OR SUPERSEDED BY
AN AMENDMENT TO THE PLAN OF OPERATION SUBMITTED BY THE CORPORATION
AND APPROVED BY THE COMMISSIONER.

(B)     COMPLIANCE REQUIRED.

EACH MEMBER INSURER SHALL COMPLY WITH THE PLAN OF OPERATION.

(C)     CONTENTS.

THE PLAN OF OPERATION SHALL:

(1)      ESTABLISH PROCEDURES FOR THE PERFORMANCE OF THE POWERS
AND DUTIES OF THE CORPORATION SPECIFIED IN § 9-306 OF THIS SUBTITLE;

(2)      ESTABLISH PROCEDURES FOR HANDLING THE ASSETS OF THE
CORPORATION;

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