Ch. 35

1997 LAWS OF MARYLAND

(III) A TITLE INSURER, ON NOTICE OF DISAPPROVAL BY THE
COMMISSIONER UNDER THIS SECTION, REQUESTS A HEARING.

(2) A HEARING UNDER THIS SUBSECTION SHALL BE HELD WITHIN 30
DAYS AFTER THE OCCURRENCE OF AN ACTION SPECIFIED IN PARAGRAPH (1) OF
THIS SUBSECTION.

(3) THE COMMISSIONER SHALL GIVE WRITTEN NOTICE OF THE
HEARING TO ALL INTERESTED PARTIES.

(4) THE COMMISSIONER MAY CONFIRM, MODIFY, CHANGE, OR RESCIND
ANY PREVIOUS ACTION, IF WARRANTED BY THE FACTS SHOWN AT THE HEARING.

REVISOR'S NOTE: This section is new language derived without substantive
change from former Art. 48A, § 242A(c)(4) and (5).

In subsection (c)(1)(ii) of this section, the reference to a "person" with an
interest in the filing is substituted for the former reference to a "party" for
accuracy.

In subsection (c)(1)(iii) of this section, the reference to a "title" insurer is
added to clarify the applicability of this provision.

Defined terms: "Commissioner" § 1-101
"Person" § 1-101

11-405. FINANCIAL DATA AND OTHER INFORMATION.

(A) REQUIRED.

THE COMMISSIONER SHALL REQUIRE THAT EACH TITLE INSURER SUBJECT TO
THIS SUBTITLE PROVIDE TO THE COMMISSIONER ON A UNIFORM BASIS FINANCIAL
DATA AND ANY OTHER INFORMATION THAT THE COMMISSIONER REQUIRES IN THE
REGULATION OF RATES.

(B) SPECIFIC DATA.

THE FINANCIAL DATA TO BE PROVIDED SHALL INCLUDE:

(1) RATES, TAXES, GENERAL EXPENSES, ALLOCATED AND
UNALLOCATED LOSS ADJUSTMENT EXPENSES, LICENSES, AND FEES; AND

(2) ALL OTHER EXPENSES THAT RELATE TO THE PROCUREMENT OF
BUSINESS NOT SPECIFICALLY LISTED AS COMMISSIONS, INCLUDING DIVIDENDS,
RETAINERS, STOCK, OFFICE SPACE, OR ANY OTHER VALUABLE CONSIDERATION.

(C) FORM.

THE INFORMATION TO BE PROVIDED UNDER THIS SECTION SHALL BE
SUPPLIED ON FORMS PROVIDED BY THE COMMISSIONER.

REVISOR'S NOTE: This section is new language derived without substantive
change from former Art. 48A, § 242A(c)(9).

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