PARRIS N. GLENDENING, Governor

Ch. 11

(2) ADJUSTING THE RESULTING PRODUCT FOR ANY SURCHARGE
EXCESS OR SHORTFALL EXPERIENCED BY THE ASSOCIATION MEMBER FOR THE
PREVIOUS APPLICABLE SURCHARGE YEAR.

(G) DEDUCTIONS FROM OTHER ASSESSMENTS OR TAXES.

AN ASSOCIATION MEMBER MAY DEDUCT AN ASSESSMENT PAYMENT FROM A
RETALIATORY TAX BUT MAY NOT DEDUCT THE PAYMENT FROM ANY OTHER
ASSESSMENT OR TAX REQUIRED BY LAW.

(H) PAYMENT OF ASSESSMENT.

(1)     THE ASSOCIATION:

(I)      FIRST, SHALL DEPOSIT THE CERTIFIED ASSESSMENT INTO THE
INSUFFICIENCY ASSESSMENT RESERVE FUND THAT IS CREATED UNDER § 20-410 OF
THIS SUBTITLE AND APPLY THE APPROPRIATE PARTS OF THE CERTIFIED
ASSESSMENT TO THE PRIVATE PASSENGER AUTO AND COMMERCIAL AUTO
DIVISIONS OF THE INSUFFICIENCY ASSESSMENT RESERVE FUND; AND

(II)    THEN, SHALL PAY TO THE FUND THE ENTIRE CERTIFIED
ASSESSMENT IN ONE SUM, LESS THE PART OF THE CERTIFIED ASSESSMENT
ALLOCATED TO THE FUND.

(2)     ANY MONEY IN THE INSUFFICIENCY ASSESSMENT RESERVE FUND
FROM A PREVIOUS YEAR SHALL BE PAID TO THE FUND ON DECEMBER 31 OF EACH
YEAR.

REVISOR'S NOTE: This section is new language derived without substantive
change from former Art. 48A, §§ 243A(b)(7) and (8) and (c), 243L(i), and
243M(d).

Throughout this section, references to commercial "auto" and private
passenger "auto" "divisions" are added to conform to the terminology used in
§ 20-404(e) of this subtitle.

In subsection (b) of this section, the former reference to certification to be
received "from the Maryland Automobile Insurance Fund" is deleted as
unnecessary in light of § 20-404 of this article, which establishes that the
Board of Trustees shall certify insufficiencies to the Board of Directors.

Also in subsection (b) of this section, the former reference to "on or before
July 1, 1987 and all subsequent years" is deleted as obsolete.

In subsection (c) of this section, the word "obtain" is substituted for the
former word "[d]etermine" to clarify that the Commissioner makes the
determination.

In the introductory language of subsection (f) of this section, the former
specific reference to "pro rata shares of the certified assessment" is deleted as
unnecessary in light of the general reference to an "assessment".

In subsection (h)(1) of this section, the requirement that the Association

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