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PARRIS N. GLENDENING, Governor
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Ch. 567
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SUBJECT TO § 2-1246 OF THE STATE GOVERNMENT ARTICLE, TO THE LEGISLATIVE
POLICY COMMITTEE OF THE GENERAL ASSEMBLY
(A) EXCEPT AS PROVIDED IN SUBSECTION (B) OF THIS SECTION, THE FUND
SHALL BE:
(1) EXAMINED BY THE COMMISSIONER IN ACCORDANCE WITH §§ 2-205
AND 2-207 THROUGH 2-209 OF THE INSURANCE ARTICLE; AND
(2) SUBJECT TO THE FOLLOWING PROVISIONS OF THE INSURANCE
ARTICLE:
(I) TITLE 4, SUBTITLE 3 (RISK BASED CAPITAL STANDARDS FOR
INSURERS);
(II) TITLE 5, SUBTITLES 1, 2, AND 9 (ASSETS AND LIABILITIES,
RESERVES, AND REINSURANCE); AND
(III) TITLE 9 (IMPAIRED ENTITIES).
(B) (1) THE COMMISSIONER MAY NOT TAKE ANY ACTION TO ENFORCE ANY
PROVISION OF THE INSURANCE ARTICLE TO WHICH THE FUND IS SUBJECT UNDER
SUBSECTION (A) OF THIS SECTION EXCEPT:
(I) THE COMMISSIONER MAY ISSUE AN ORDER UNDER TITLE 9
(IMPAIRED ENTITIES) OF THE INSURANCE ARTICLE; AND
(II) THE COMMISSIONER MAY TAKE ACTION AUTHORIZED UNDER
§§ 4-307 AND 4-308 OF THE INSURANCE ARTICLE RELATING TO RISK BASED CAPITAL
STANDARDS FOR INSURERS.
(2) ANY ORDER ISSUED UNDER THIS SUBSECTION:
(I) MAY NOT INCLUDE A REQUIREMENT THAT THE FUND
INCREASE RATES; AND
(II) SHALL BE SUBJECT TO TITLE 2, SUBTITLE 2, OF THE
INSURANCE ARTICLE.
(3) THE COMMISSIONER SHALL REPORT TO THE BOARD ON THE
RESULTS OF ANY EXAMINATION CONDUCTED UNDER SUBSECTION (A)(1) OF THIS
SECTION
(C) (1) THE COMMISSIONER MAY EXAMINE OR REVIEW THE FUND FOR
COMPLIANCE WITH:
(I) TITLE 12, SUBTITLE 1 OF THE INSURANCE ARTICLE (POLICY
FORMS AND PROVISIONS);
(II) EXCEPT FOR 19-403 (SETTING PREMIUM RATES), TITLE 19,
SUBTITLE 4 OF THE INSURANCE ARTICLE (WORKERS' COMPENSATION INSURANCE);
AND
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- 3015 -
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