Ch. 685                                    1997 LAWS OF MARYLAND

(2) Income from investments that the State Treasurer makes for the
PORTION OF THE REGULATION FEE DEPOSITED IN THE Insurance Fraud Division
[Fund] ACCOUNT.

(d) All the costs and expenses of the Insurance Fraud Division shall be included
in fee State budget and expenditures from the [Fund] ACCOUNT to cover costs and
expenses of the Fraud Division may only be made;

(1) Pursuant to on appropriation approved by the General Assembly in the
annual State budget; or

(2) By the budget amendment procedure provided for in [§ 7-109] § 7-209
of the State Finance and Procurement Article.

[(e)) (1) The State Treasurer is the custodian of the Fund.

(2) The Fund shall be invested and reinvested in the same manner as State
funds.

(3) The State Treasurer shall deposit payments received from the Insurance
Commissioner into the Fund.

(f) (1) The Fund is a continuing, nonlapsing fund and is not subject to § 7-302
of the State Finance and Procurement Article; and may not be deemed a part of the
General Fund:

(2) No part of the Fund may revert or be credited to:

(i) The General Fund of the State; or

(ii) A special fund of the State.]

283.

(b) The proposed attorney shall fulfill the requirements of and shall execute and
file with the Commissioner when applying for a certificate of authority, a declaration
setting forth:

(1) The name of the insurer;

(2)    The location of the insurer's principal office and of the office or offices
from which policies are to be issued;

(3) The kind or lands of insurance business in which the reciprocal proposes
to engage;

(4)     A power of attorney appointing the Commissioner as agent for service of
process as provided by § 57;

(5)    The names and addresses of the original subscribers;

(6)    The designation and appointment of the proposed attorney and a copy
of the power of attorney;

- 3948 -