Ch. 5 2004 LAWS OF MARYLAND
(B) THE DIVISION MAY RETAIN AS NECESSARY FOR A PARTICULAR MATTER
OR EMPLOY EXPERTS IN THE FIELD OF INSURANCE REGULATION, INCLUDING
ACCOUNTANTS, ACTUARIES, AND LAWYERS.
(C) THE PEOPLE'S INSURANCE COUNSEL SHALL DIRECT THE DIVISION.
6-304.
(A) THE COMMISSIONER SHALL:
(1) COLLECT AN ANNUAL ASSESSMENT FROM EACH HEALTH INSURER,
LIFE INSURER, AND PROPERTY AND CASUALTY INSURER FOR THE COSTS AND
EXPENSES INCURRED BY THE DIVISION IN CARRYING OUT ITS DUTIES UNDER THIS
SUBTITLE; AND
(2) DEPOSIT THE AMOUNTS COLLECTED INTO THE PEOPLE'S
INSURANCE COUNSEL FUND ESTABLISHED UNDER § 6-305 OF THIS SUBTITLE.
(B) THE ASSESSMENT PAYABLE BY A HEALTH INSURER, LIFE INSURER, OR
PROPERTY AND CASUALTY INSURER IS THE PRODUCT OF THE FRACTION OBTAINED
BY DIVIDING THE CROSS DIRECT PREMIUM WRITTEN BY THE HEALTH INSURER, LIFE
INSURER, OR PROPERTY AND CASUALTY INSURER IN THE PRIOR CALENDAR YEAR BY
THE TOTAL AMOUNT OF CROSS DIRECT PREMIUM WRITTEN BY ALL HEALTH
INSURERS, LIFE INSURERS, AND PROPERTY AND CASUALTY INSURERS IN THE PRIOR
CALENDAR YEAR, MULTIPLIED BY THE AMOUNT OF THE TOTAL COSTS AND
EXPENSES UNDER SUBSECTION (A)(1) OF THIS SECTION.
6-305.
(A) IN THIS SECTION, "FUND" MEANS THE PEOPLE'S INSURANCE COUNSEL
FUND.
(B) THERE IS A PEOPLE'S INSURANCE COUNSEL FUND.
(C) THE PURPOSE OF THE FUND IS TO PAY ALL COSTS AND EXPENSES
INCURRED BY THE DIVISION IN CARRYING OUT ITS DUTIES UNDER THIS SUBTITLE.
(D) THE FUND SHALL CONSIST OF;
(1) ALL REVENUE DEPOSITED INTO THE FUND THAT IS RECEIVED
THROUGH THE IMPOSITION AND COLLECTION OF THE ASSESSMENT UNDER § 6 301
OF THIS SUBTITLE; AND
(2) INCOME FROM INVESTMENTS THAT THE STATE TREASURER MAKES
FOR THE FUND.
(E) (1) EXPENDITURES FROM THE FUND MAY BE MADE ONLY BY:
(I) AN APPROPRIATION FROM THE FUND APPROVED BY THE
GENERAL ASSEMBLY IN THE ANNUAL STATE BUDGET; OR
(II) THE BUDGET AMENDMENT PROCEDURE PROVIDED FOR IN §
7 200 OF THE STATE FINANCE AND PROCUREMENT ARTICLE.
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