Ch. 357                                    2003 LAWS OF MARYLAND

certificate of authority except under certain circumstances; specifying certain
activities in which a certain corporation may engage; specifying that certain
members of a certain board of directors are fiduciaries on behalf of a certain
corporation; specifying the manner in which certain board members shall act;
specifying the principal functions of a certain board; specifying the number and
composition of members on a certain board; specifying the manner in which
certain board members shall be chosen providing that a certain board is
self-perpetuating; requiring a certain board to establish certain committees;
prohibiting certain board members from chairing a committee after a certain
date; requiring board approval for certain actions; requiring a certain board to
take and retain certain minutes; altering the term of certain board members
beginning on a certain date; altering the maximum term of certain board
members; specifying that the the amount of compensation of certain directors
and officers shall meet a certain requirement; altering the maximum
representation of certain individuals on a certain board;; altering the definition
of an "unsound or unsafe business practice"; requiring the Attorney General to
notify the Insurance Commissioner that a nonprofit health service plan is
engaging in a certain business practice under certain circumstances;
authorizing the Attorney General to undertake a certain investigation and
initiate a certain action under certain circumstances; prohibiting the Insurance
Commissioner from making certain approvals unless the Insurance
Commissioner determines approval is in the public interest; limiting the
compensation that certain individuals may approve or receive from the assets of
a certain corporation; requiring a certain board to develop certain guidelines,
submit the guidelines to the Insurance Commissioner for approval, provide a
copy of the guidelines to certain individuals, and adhere to the guidelines in
compensating certain individuals; requiring the Insurance Commissioner to
review certain compensation and issue a certain order prohibiting payment of
certain compensation under certain circumstances; providing that the approval
or receipt of certain remuneration is a violation of a certain provision of law and
is an unsound or unsafe business practice; increasing the maximum civil penalty
for violations of certain provisions of law by certain officers, directors, and
employees; establishing a Joint BlueCross and BlueShield Oversight
Committee; specifying the number and composition of the Committee; providing
for the appointment of co-chairmen of and staff assistance for the Committee;
requiring the Committee to undertake a certain examination and evaluation to
meet certain goals; requiring the Committee to submit a certain annual report
in a certain manner and on or before certain dates; providing for the termination
of the terms of certain board members and for replacement of those members;
requiring a certain board to develop a plan to stagger the terms of certain board
members in a certain manner; prohibiting the acquisition of a certain nonprofit
health service plan within a certain period of time; providing for the application
of certain provisions of law to certain compensation agreements; prohibiting a
member of the board of directors of a certain corporation from serving on the
board after removal from the board; stating the intent of the General Assembly
to encourage a certain nonprofit health service plan to participate in certain
public programs; requiring a certain nonprofit health service plan to work with
certain persons, conduct a certain study, and report to certain committees of the

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