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Martin O'Malley, Governor
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S.B. 936
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FOR the purpose of altering the number of terms and the total number of years that
may be served by a member of the board of directors of a nonprofit health
service plan; altering the amount and type of compensation that may be
received by a board member; requiring the Maryland Insurance Commissioner
to make a certain review in a certain manner about the amount of compensation
to be paid to board members; requiring the Commissioner to submit a certain
report to certain committees of the General Assembly on or before a certain date
each year; altering the requirement that a certain corporation report certain
information to the Maryland Insurance Commissioner; requiring a certain
compensation committee to develop certain guidelines for certain compensation
for board members: requiring the board of a nonprofit health service plan to
provide a copy of certain guidelines to each member of the board: requiring the
board of a nonprofit health service plan to adhere to certain guidelines in
compensating the board members of the nonprofit health service plan: requiring
the Commissioner to review certain compensation paid to board members: and
generally relating to the boards of directors of nonprofit health service plans.
BY repealing and reenacting, with amendments,
Article - Insurance
Section 14-115(e)(6) and (g) and 14-139(d)
Annotated Code of Maryland
(2006 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
14-115.
(e) (6) A member may not serve for more than:
(i) [two] THREE full terms; or
(ii) a total of more than [6] 9 years.
(g) (1) [Excluding reimbursement for ordinary and necessary expenses, a
board member, in any calendar year, may receive compensation not to exceed:
(i) $15,000 for the chairman of the board or a board member
who is the chairman of a committee; or
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(ii) $12,000 for a board member who is not the chairman of the
board or a board committee.]
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- 4501 -
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