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2007 Laws of Maryland
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Ch. 110
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BY repealing and reenacting, with amendments,
Article - Insurance
Section 2-205 and 2-209
Annotated Code of Maryland
(2003 Replacement Volume and 2006 Supplement)
SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the Laws of Maryland read as follows:
Article - Insurance
2-205.
(a) IN THIS SECTION, "ANALYSIS" MEANS A PROCESS BY WHICH THE
COMMISSIONER COLLECTS AND ANALYZES INFORMATION FROM FILED
SCHEDULES, SURVEYS, REQUIRED REPORTS SPECIFIED IN SUBSECTION (B) OF
THIS SECTION, AND OTHER SOURCES IN ORDER TO:
(1) DEVELOP AN UNDERSTANDING OF THE AFFAIRS,
TRANSACTIONS, ACCOUNTS, RECORDS, ASSETS, AND FINANCIAL CONDITION OF
THE ENTITIES SPECIFIED IN SUBSECTION (B) OF THIS SECTION; OR
(2) IDENTIFY OR INVESTIGATE PATTERNS OR PRACTICES OF THE
ENTITIES SPECIFIED IN SUBSECTION (B) OF THIS SECTION.
(B) (1) Whenever the Commissioner considers it advisable, the
Commissioner shall CONDUCT AN ANALYSIS OR examine the affairs, transactions,
accounts, records, [and] assets, AND FINANCIAL CONDITION of each:
(i) authorized insurer;
(ii) management company of an authorized insurer;
(iii) subsidiary owned or controlled by an authorized insurer;
(iv) rating organization; or
(v) authorized health maintenance organization.
(2) The Commissioner shall examine each domestic insurer and health
maintenance organization at least once every 5 years.
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- 1012 -
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