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PARRIS N. GLENDENING, Governor H.B. 99
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(d) The gross contract and certificate income for 1 year of a dental plan
organization that is referred to in subsection (b) of this section may not include
income earned from a dental plan if:
(1) participation is wholly voluntary on the part of the enrollee;
(2) the cost for the dental plan is borne by the enrollee; and
(3) the payment for the dental plan is by payroll deduction on the basis of
every week, 2 weeks, or month.]
(B) (1) EXCEPT AS PROVIDED IN SUBSECTION (D) OF THIS SECTION. A
DENTAL PLAN ORGANIZATION SHALL DEPOSIT WITH THE COMMISSIONER OR WITH
ANY ORGANIZATION OR TRUSTEE ACCEPTABLE TO THE COMMISSIONER THROUGH
WHICH A CUSTODIAL OR CONTROLLED ACCOUNT IS UTILIZED USED, CASH,
SECURITIES, OR ANY COMBINATION OF THESE OR OTHER MEASURES THAT IS
ACCEPTABLE TO THE COMMISSIONER IN AN AMOUNT EQUAL TO $25,000 PLUS 25% OF
THE SURPLUS REQUIRED IN SUBSECTION (A) OF THIS SECTION, PROVIDED THAT THE
DEPOSIT SHALL NOT BE REQUIRED TO EXCEED $100,000.
(2) THE DEPOSIT SHALL BE:
(I) AN ADMITTED ASSET OF THE DENTAL PLAN ORGANIZATION IN
THE DETERMINATION OF SURPLUS;
(II) USED TO PROTECT THE INTERESTS OF THE DENTAL PLAN
ORGANIZATION'S ENROLLEES;
(III) USED TO ASSURE CONTINUATION OF LIMITED HEALTH CARE
SERVICES TO ENROLLEES OF A DENTAL PLAN ORGANIZATION THAT IS IN
REHABILITATION OR CONSERVATION; AND
(IV) IF A DENTAL PLAN ORGANIZATION IS PLACED IN
RECEIVERSHIP OR LIQUIDATION, AN ASSET SUBJECT TO PROVISIONS OF THE
UNIFORM INSURERS LIQUIDATION ACT.
(3) ALL INCOME FROM DEPOSITS SHALL BE AN ASSET OF THE DENTAL
PLAN ORGANIZATION.
(4) A DENTAL PLAN ORGANIZATION MAY WITHDRAW A DEPOSIT OR ANY
PART THEREOF AFTER MAKING A SUBSTITUTE DEPOSIT OF EQUAL AMOUNT AND
VALUE.
(5) A SUBSTITUTE DEPOSIT OF ANY SECURITIES SHALL BE APPROVED
BY THE COMMISSIONER IS SUBJECT TO THE APPROVAL OF THE COMMISSIONER.
(C) EXCEPT AS PROVIDED IN SUBSECTION (D) OF THIS SECTION THE
COMMISSIONER MAY REDUCE OR ELIMINATE THE DEPOSIT REQUIREMENT IF THE
DENTAL PLAN ORGANIZATION HAS MADE AN ACCEPTABLE DEPOSIT WITH THE STATE
OR JURISDICTION OF DOMICILE FOR THE PROTECTION OF ALL ENROLLEES,
WHEREVER LOCATED, AND DELIVERS TO THE COMMISSIONER A CERTIFICATE TO
SUCH EFFECT, DULY AUTHENTICATED BY THE APPROPRIATE STATE OFFICIAL
HOLDING THE DEPOSIT.
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- 4269 -
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