PARRIS N. GLENDENING, Governor                             Ch. 685

(2) THE REPORT SHALL BE FILED IN A MANNER AND CONTAIN THE
INFORMATION REQUIRED BY THE COMMISSIONER.

(B) FAILURE BY AN INSURER TO PAY THE INSURANCE REGULATION FEE ON
OR BEFORE JULY 31 SEPTEMBER 1 OF EACH YEAR SHALL SUBJECT THE INSURER TO
THE PROVISIONS OF §§ 4-113 AND 4-114 OF THIS ARTICLE.

(C) (1) IF ADDITIONAL AMOUNTS ARE FOUND TO BE DUE AFTER A REPORT
HAS BEEN FILED, THE AMOUNTS SHALL BE SUBJECT TO INTEREST AT 6 % 10 % PER
YEAR FROM THE TIME THE FEE WAS DUE UNTIL PAYMENT IS ACTUALLY MADE TO
THE COMMISSIONER.

(2) THE COMMISSIONER MAY WAIVE INTEREST UNDER THIS
SUBSECTION ON LATE PAYMENTS IF THE INSURER PROVES THAT IT:

(I) MADE A GOOD FAITH EFFORT TO COMPLY WITH THE
REQUIREMENTS OF THIS SECTION; AND

(II) EXERCISED DUE DILIGENCE TO INITIATE PAYMENT
CORRECTLY AND ON A TIMELY BASIS.

(D) THIS SECTION DOES NOT AFFECT ANY REQUIREMENT OTHERWISE
ESTABLISHED BY LAW FOR THE PAYMENT OF PREMIUM TAXES BY AN INSURER.

2-506.

THE COMMISSIONER MAY ADOPT REGULATIONS TO IMPLEMENT ANY
PROVISION OF THIS SUBTITLE.

3-204.

[(e) When applying for a certificate of authority, the proposed attorney in fact
shall pay to the Commissioner the applicable fee required by § 2-112 of this article.]

3-206.

[After payment of the applicable fee required by § 2-112 of this article, the] THE
Commissioner shall issue to the attorney in fact of each reciprocal insurer that meets the
requirements of this subtitle a certificate of authority in the name of the reciprocal
insurer.

3-207.1.

(A) THE CERTIFICATE OF AUTHORITY OF A RECIPROCAL INSURER SHALL
EXPIRE ON JULY 31 AND MAY BE RENEWED ANNUALLY.

(B) UPON SUBMISSION BY THE RECIPROCAL INSURER OF AN APPLICATION
FOR RENEWAL AND PAYMENT OF THE INSURANCE REGULATION FEE UNDER § 2-502
OF THIS ARTICLE BEFORE THE EXPIRATION DATE OF A CERTIFICATE OF
AUTHORITY, THE SAME SHALL REMAIN IN EFFECT UNTIL A NEW CERTIFICATE OF
AUTHORITY IS ISSUED OR SPECIFICALLY REFUSED.

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