PARRIS N. GLENDENING, Governor                             Ch. 685

(2) THE BASE ASSESSMENT RATE FOR THE REGULATORY FEE MAY NOT
EXCEED 0.0015 OF THE TOTAL AMOUNT OF ADJUSTED NEW AND RENEWAL GROSS
DIRECT PREMIUMS WRITTEN IN THE STATE BY ALL INSURERS.

(E) THE INSURANCE REGULATION FEE CHARGED TO EACH INSURER SHALL
EQUAL THE PRODUCT OF MULTIPLYING THE INSURER'S GROSS DIRECT WRITTEN
PREMIUMS BY THE BASE ASSESSMENT RATE.

2-504.

(A) THERE IS AN INSURANCE REGULATION FUND THAT CONSISTS OF:

(1) ALL REVENUE RECEIVED THROUGH THE IMPOSITION OF THE
INSURANCE REGULATION FEE;

(2) ALL REVENUE FROM THE IMPOSITION OF ALL OTHER FEES
SPECIFIED AGAINST PERSONS OR ENTITIES OTHER THAN INSURERS UNDER THIS
ARTICLE; AND

(2) ALL REVENUE FROM THE IMPOSITION OF:

(I) FEES LISTED UNDER § 2-112 OF TIES TITLE: AND

(II) ALL OTHER FEES CHARGED AGAINST ENTITIES OTHER THAN
INSURERS UNDER THIS ARTICLE AND THE HEALTH - GENERAL ARTICLE; AND

(3) INCOME FROM INVESTMENTS THAT THE STATE TREASURER MAKES
FOR THE FUND.

(B) THE PURPOSE OF THE FUND IS TO PAY ALL THE COSTS AND EXPENSES
INCURRED BY THE ADMINISTRATION RELATED TO THE REGULATION OF THE
INSURANCE ACTIVITIES OF ALL INSURERS THAT ENGAGE IN BUSINESS IN THE
STATE.

(C) (1) ALL THE COSTS AND EXPENSES OF THE ADMINISTRATION SHALL BE
INCLUDED IN THE STATE BUDGET.

(2) ANY EXPENDITURES FROM THE FUND TO COVER COSTS AND
EXPENSES OF THE ADMINISTRATION MAY ONLY BE MADE:

(I) PURSUANT TO AN APPROPRIATION AGAINST THE INSURANCE
REGULATION FUND APPROVED BY THE GENERAL ASSEMBLY IN THE ANNUAL STATE
BUDGET; OR

(II) BY THE BUDGET AMENDMENT PROCEDURE PROVIDED FOR IN
§ 7-209 OF THE STATE FINANCE AND PROCUREMENT ARTICLE.

(3) (I) IN ANY GIVEN FISCAL YEAR, IF THE AMOUNT OF THE
INSURANCE REGULATION FEE REVENUE COLLECTED BY THE COMMISSIONER
UNDER THIS SUBTITLE AND DEPOSITED INTO THE FUND EXCEEDS THE ACTUAL
EXPENDITURES PURSUANT TO APPROPRIATIONS FOR THE ADMINISTRATION, THE
EXCESS AMOUNT SHALL BE CARRIED FORWARD WITHIN THE FUND FOR THE

- 3969 -