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Ch. 331
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2000 LAWS OF MARYLAND
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Commissioner finds there is a reasonable expectation that the mandatory control
level event may be eliminated within the 90-day period.
(d) (1) The Commissioner shall have the rights, powers, and duties under
Title 9 of this article needed to carry out the requirements of this section.
(2) If the Commissioner takes any action under Title 9 of this article
pursuant to an adjusted RBC report as provided in this section, the insurer shall be
entitled to the protections afforded to insurers under Title 9 of this article with regard
to summary proceedings.
4-311.
(a) The provisions of this Act are supplemental to other laws of the State, and
may not preclude or limit any other powers or duties of the Commissioner [under this
article], including Title 9 of this article AND TITLE 19 OF THE HEALTH—GENERAL
ARTICLE.
(b) (1) The Commissioner may adopt regulations to carry out this subtitle.
(2) THE COMMISSIONER, IN CONSULTATION WITH THE SECRETARY OF
HEALTH AND MENTAL HYGIENE, SHALL ADOPT REGULATIONS THAT APPLY
APPROPRIATE RISK BASED CAPITAL STANDARDS TO MANAGED CARE
ORGANIZATIONS AS DEFINED UNDER § 15-101(F) OF THE HEALTH - GENERAL
ARTICLE.
(c) The Commissioner may exempt from the application of this Act any
domestic property and casualty insurer that:
(1) writes direct business only in the State;
(2) writes direct annual premiums of $2,000,000 or less; and
(3) assumes no reinsurance in excess of 5% of direct premiums written.
SECTION 3. AND BE IT FURTHER ENACTED, That the Insurance
Commissioner, in consultation with the Secretary of Health and Mental Hygiene, shall
adopt regulations that apply risk based capital standards to managed care
organizations no later than July 1, 2001.
SECTION 3. 4. AND BE IT FURTHER ENACTED, That this Act shall take
effect July 1, 2000.
Approved May 11, 2000.
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- 1986 -
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