Ch. 685

1997 LAWS OF MARYLAND

(3)] The Department has advised in writing that the health maintenance
organization's proposed health related services, operations, and functions that fall under
the regulatory jurisdiction of the Department appear to meet its requirements or are
approved by the Department; and

[(4)] (3) The Commissioner is satisfied that the requirements of § 19-710 of
this subtitle are met.

19-721.

(a) Unless previously suspended or revoked, each original and renewal certificate
of authority issued under this subtitle to a health maintenance organization expires at
midnight on the November 30 JUNE 1 after its effective date.

(b) On payment of [an annual renewal fee of $25] THE INSURANCE
REGULATION FEE REQUIRED UNDER ARTICLE 48A, §§ 41 THROUGH 4lG OF THE
CODE by the health maintenance organization before the expiration date of its certificate
of authority, its certificate remains in effect until a new certificate of authority is issued or
specifically refused.

19-727.

(a)     Except as provided in subsection (b) of this section, a health maintenance
organization is not exempted from any State, county, or local taxes solely because of this
subtitle.

(b)    (1) Each health-maintenance organization that is authorized to operate
under this subtitle is exempted from paying the premium tax imposed under Article 48A,
[§ 632] SUBTITLE 47 of the Code.

(2) Premiums received by an insurer under policies that provide health
maintenance organization benefits are not subject to the premium tax imposed under
Article 48A, [§ 632] SUBTITLE 17 of the Code to the extent:

(i) Of the amounts actually paid by the insurer to a nonprofit health
maintenance organization that operates only as a health maintenance organization; or

(ii) The premiums have been paid by that nonprofit health
maintenance organization.

SECTION 2. 3. AND BE IT FURTHER ENACTED, That the Laws of Maryland
read as follows:

Article - Insurance

2-110.

(a) As early in each fiscal year as is reasonably possible the Commissioner shall
prepare an annual report about the previous fiscal year that includes:

(1) a list of the authorized insurers transacting insurance business in the
State, with any summary of their financial statements that the Commissioner considers
appropriate;

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