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Ch. 465
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2000 LAWS OF MARYLAND
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Article - Insurance
2-205.
(a) (1) Whenever the Commissioner considers it advisable, the
Commissioner shall examine the affairs, transactions, accounts, records, and assets of
each:
(i) authorized insurer;
(ii) management company of an authorized insurer;
(iii) subsidiary owned or controlled by an authorized insurer; [or]
(iv) rating organization; OR
(V) AUTHORIZED HEALTH MAINTENANCE ORGANIZATION.
(2) The Commissioner shall examine each domestic insurer AND
HEALTH MAINTENANCE ORGANIZATION at least once every 5 years.
(b) The Commissioner shall examine the affairs, transactions, accounts,
records, and assets of:
(1) each insurer AND EACH HEALTH MAINTENANCE ORGANIZATION that
applies for an original certificate of authority to do business in the State; and
(2) each rating organization that applies for a license to do business in
the State.
(c) When examining a reciprocal insurer, the Commissioner may examine the
attorney in fact of the reciprocal insurer to the extent that the transactions of the
attorney in fact relate to the reciprocal insurer.
(d) The Commissioner may limit the examination of an alien insurer to its
insurance transactions and affairs in the United States.
(e) Instead of conducting an examination, the Commissioner may accept a full
report, certified by the insurance supervisory official of another state, of the most
recent examination of a foreign insurer OR HEALTH MAINTENANCE ORGANIZATION,
alien insurer OR HEALTH MAINTENANCE ORGANIZATION, or an out-of-state rating
organization.
2-207.
(a) (1) The Commissioner shall conduct an examination of an insurer,
HEALTH MAINTENANCE ORGANIZATION, OR PRIVATE REVIEW AGENT at:
(i) the home office of a [domestic insurer or foreign insurer]
DOMESTIC INSURER, FOREIGN INSURER, HEALTH MAINTENANCE ORGANIZATION, OR
PRIVATE REVIEW AGENT;
(ii) the United States branch office of an alien insurer, HEALTH
MAINTENANCE ORGANIZATION, OR PRIVATE REVIEW AGENT; or
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- 2504 -
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