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Ch. 323
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2000 LAWS OF MARYLAND
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(1) a corporation that operates a nonprofit health service plan under
Title 14, Subtitle 1 of this article;
(2) a dental plan organization, as defined in § 14-401 of this article;
(3) a surplus lines insurer; [and]
(4) a health maintenance organization; AND
(5) A LICENSED HEALTH SERVICES CONTRACTOR AS DEFINED IN §
15-10D-01 OF THIS ARTICLE.
(e) (1) A chief executive officer shall immediately provide the Commissioner
and all members of the board of directors or the trustees of an insurer with written
notice that the insurer is an impaired insurer, if the chief executive officer:
(i) knows that the insurer is an impaired insurer; and
(ii) for a period of 60 days, has been unable to remedy the
impairment.
(2) A director, officer, or trustee of an insurer who knows that the insurer
is an impaired insurer shall immediately notify the chief executive officer of the
impairment.
(d) Notice provided to the Commissioner under this section has the
confidentiality specified in § 7-106 of this article.
(e) If a person knows that the action will result in or contribute to an insurer
becoming an impaired insurer, the person may not:
(1) conceal property that belongs to the insurer;
(2) transfer or conceal property of the person or property that belongs to
the insurer in contemplation of a delinquency proceeding;
(3) conceal, destroy, mutilate, alter, or falsify a document that relates to
the property of the insurer;
(4) withhold a document from a receiver, trustee, or other officer of the
court entitled to its possession under this subtitle; or
(5) give, obtain, or receive anything of value for acting or forbearing to
act in a delinquency proceeding.
(f) (1) In addition to any other applicable penalty provided in this article, a
person that violates subsection (c) of this section is guilty of a misdemeanor and on
conviction is subject to a fine not exceeding $50,000 or imprisonment not exceeding 3
years or both.
(2) In addition to any other applicable penalty provided in this article, a
person that violates subsection (c) of this section is subject to a civil penalty not
exceeding $50,000.
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