Ch. 35

1997 LAWS OF MARYLAND

(1) (I) THE COMMISSIONER SHALL DISAPPROVE EACH PLAN OF
WITHDRAWAL THAT DOES NOT COMPLY WITH THIS SECTION.

(II) IF THE COMMISSIONER DISAPPROVES A PLAN, THE
COMMISSIONER SHALL ISSUE AN ORDER OF DISAPPROVAL THAT INCLUDES
SPECIFIC REASONS FOR THE DISAPPROVAL.

(2) (I) SUBJECT TO PARAGRAPH (3) OF THIS SUBSECTION, A PLAN
FILED UNDER THIS SECTION IS DEEMED APPROVED IF THE COMMISSIONER FAILS TO
APPROVE OR DISAPPROVE THE PLAN WITHIN 60 DAYS AFTER THE DATE OF FILING
BY THE INSURER.

(II) IF A FILING IS DEEMED APPROVED UNDER THIS PARAGRAPH,
THE FILING BECOMES EFFECTIVE ON THE 60TH DAY AFTER THE DATE OF FILING.

(3) IF THE COMMISSIONER DOES NOT HAVE SUFFICIENT INFORMATION
TO DETERMINE WHETHER A FILING OR AMENDED FILING MEETS THE
REQUIREMENTS OF THIS SECTION, THE COMMISSIONER:

(I) SHALL REQUIRE THE INSURER TO PROVIDE THE NECESSARY
INFORMATION; AND

(II) MAY EXTEND THE PERIOD FOR APPROVAL UNTIL THE
INFORMATION IS PROVIDED.

(4) A PLAN MAY BE WITHDRAWN OR AMENDED BY THE INSURER AT
ANY TIME BEFORE APPROVAL.

(5) AFTER APPROVAL OR DISAPPROVAL OF A PLAN, THE WITHDRAWAL
OR AMENDMENT OF THE PLAN IS SUBJECT TO THE APPROVAL OF THE
COMMISSIONER.

REVISOR'S NOTE: This section is new language derived without substantive
change from former Art. 48A, § 240A(b).

In subsection (b)(2)(ii) of this section, the reference to the "insurer's" risks is
substituted for the former reference to the "company's" risks for consistency
throughout this section.

Defined terms: "Agent" § 1-101
"Annuity" § 1-101
"Commissioner" § 1-101
"Health insurance" § 1-101
"Insurance" § 1-101
"Insurer" § 1-101
"Life insurance" § 1-101
"Reinsurance" § 1-101

27-604. PREMIUM INCREASE OF 20% OR MORE.
(A) SCOPE OF SECTION.
THIS SECTION DOES NOT APPLY TO:

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