PARRIS N. GLENDENING, Governor

Ch. 57

(ii) The request for deferment shall be made in writing to the
Commissioner within 15 days after receipt of the assessment notice.

(2) The Commissioner may defer all or part of the assessment of a
reinsuring carrier if the Commissioner determines that payment of the assessment would
place the reinsuring carrier in a financially impaired condition.

(3) (i) Any amount deferred shall be assessed against the other reinsuring
carriers in a manner consistent with the basis for assessment set forth in this section.

(ii) The reinsuring carrier receiving the deferment shall remain liable
to the Pool for the amount deferred and may not reinsure any individuals or groups in the
Pool until it pays that amount.

REVISOR'S NOTE: This section is new language derived without substantive
change from former Art. 48A, § 709(d) (effective subject to Ch. 9, §§ 5 and 7,
Acts of 1993, as amended by Ch. 258, § 3, Acts of 1994).

In subsection (c)(4) of this section, the former phrase "from time to time" is
deleted as included in the discretion of the Board to change the assessment
formula.

In subsection (c)(5) of this section, the reference to "assessment shares" is
substituted for the former reference to "shares of the assessment base" for
consistency within this section.

In subsection (c)(6) of this section, the reference to the "Health Maintenance
Organization Act of 1973" is substituted for the former reference to "42
U.S.C. § 300, et seq." to use the short title of the Act and to conform to the
citation of other federal laws in other revised articles of the Code.

In subsections (d)(2) and (3)(v) and (h)(3)(ii) of this section, the references to
the "Pool" are substituted for the former references to the "program" because
there is no "program" of reinsurance, only the "Pool".

In subsection (f) of this section, the reference to the "assessment share" is
substituted for the former reference to each reinsuring carrier's "proportion
of the assessment" for consistency within this section.

In subsection (h)(3)(i) of this section, the reference to "reinsuring carriers" is
substituted for the former reference to "participating carriers" to allow the
use of the defined term. A reinsuring carrier is one "that participates in the
Pool".

Also in subsection (h)(3)(i) of this section, the former introductory claim, "[i]f
all or part of an assessment against a reinsuring carrier is deferred" is deleted
as surplusage.

Defined terms: "Board" § 1
"Carrier" § 1

"Commissioner" IN § 1-101
"Health benefit plan" § 1

- 1369 -