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Ch. 567
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PARRIS N. GLENDENING, Governor
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(j) The Department of Legislative Services shall provide the staff for the
Commission from among its fiscal analysts.
(k) The Commission shall issue to the Governor and, subject to § 2-1246 of the
State Government Article, to the General Assembly:
(1) on or before December 31, 2000, an interim report on its findings; and
(2) on or before December 31, 2001, a final report on its findings.
(l) The Commission shall terminate at the end of December 31, 2001.
SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect
July 1, 2000. It shall remain effective for a period of 1 year and 6 months and, at the
end of December 31, 2001, with no further action required by the General Assembly,
this Act shall be abrogated and of no further force and effect.
Approved May 18, 2000.
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CHAPTER 567
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(Senate Bill 881)
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AN ACT concerning
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Injured Workers' Insurance Fund - Regulation
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FOR the purpose of requiring the Injured Workers' Insurance Fund (Fund) to be a
member of the Property and Casualty Insurance Guaranty Corporation;
increasing the number of members on the Board for the Fund; increasing the
number of Board members that must concur for the Board to act; requiring the
Maryland Insurance Commissioner to examine the Injured Workers' Insurance
Fund in accordance with provisions of the Insurance Article relating to the
examination of an insurer's affairs, transactions, accounts, records, and assets;
requiring the Commissioner to submit a final report of any examination to the
Governor and the Legislative Policy Committee of the General Assembly;
altering provisions relating to the investment of excess moneys in the Fund;
repealing provisions making the State Treasurer the custodian of the Fund and
governing how the State Treasurer disburses money from the Fund; requiring
the Insurance Commissioner to ensure that the Fund meets certain solvency
standards before the Fund may become a member of a certain corporation;
providing that certain member insurers of a certain corporation are obligated
only for liabilities arising from certain claims filed against the Fund; providing
that the Fund is obligated as a member of a certain corporation only for
liabilities arising from certain claims filed against certain member insurers
prohibiting a member from serving more than two terms under certain
circumstances; repealing the requirement that the board appoint an executive
vice president; repealing a certain provision that subjects the Fund to certain
laws; repealing the requirement that the State Treasurer is the custodian of the
Fund; repealing the requirement that the State Treasurer keep the Fund separate
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- 3009 -
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