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Ch. 317
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2002 LAWS OF MARYLAND
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(I) IN ACCORDANCE WITH AN APPROPRIATION APPROVED BY THE
GENERAL ASSEMBLY IN THE ANNUAL STATE BUDGET; OR
(II) BY THE BUDGET AMENDMENT PROCEDURE PROVIDED FOR IN §
7-109 OF THE STATE FINANCE AND PROCUREMENT ARTICLE.
(E) (1) THE STATE TREASURER IS THE CUSTODIAN OF THE FUND.
(2) THE FUND SHALL BE INVESTED AND REINVESTED IN THE SAME
MANNER AS STATE FUNDS.
(3) THE STATE TREASURER SHALL DEPOSIT PAYMENTS RECEIVED FROM
THE COMMISSIONER INTO THE FUND.
(F) (1) THE FUND IS A CONTINUING, NONLAPSING FUND AND IS NOT
SUBJECT TO § 7-302 OF THE STATE FINANCE AND PROCUREMENT ARTICLE, AND MAY
NOT BE DEEMED A PART OF THE GENERAL FUND.
(2) NO PART OF THE FUND MAY REVERT OR BE CREDITED TO:
(I) THE GENERAL FUND OF THE STATE; OR
(II) A SPECIAL FUND OF THE STATE.
20-502.
(e) (1) If a prospective insured fails to qualify under this section, any policy
issued is void and a commission may not be paid by the Fund to a fund producer.
(2) (i) Subject to the provisions of subparagraph (ii) of this paragraph,
if a person fails to meet the requirements of subsection (b) of this section, the Fund
may charge and collect the greater of:
1. a policy processing fee to cover its expenses; or
2. the amount that the person would have received after the
Fund returns to a Fund producer; or any other person other than the person who fails
to meet the requirements of subsection (b) of this section, any gross unearned
premiums that are due under the policy.
(ii) Prior to charging and collecting a policy processing fee or the
amount allowed under subparagraph (i) of this paragraph, the Fund shall refer to the
Insurance Fraud Division in the [Administration] DEPARTMENT OF STATE POLICE
for investigation and possible prosecution of the person who fails to meet the
requirements of subsection (b) of this section.
27-801.
(b) "Fraud division" means the Insurance Fraud Division in the
[Administration] DEPARTMENT OF STATE POLICE.
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- 2794 -
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