Section 10-126 - Reports to Governor.
§ 10-126. Reports to Governor.
(a) Annual report.- Within 90 days after the close of each fiscal year, the Board shall submit to the Governor an annual report that includes a detailed statement of:
(1) the condition and expenses of the Fund in detail;
(2) growth of the Fund;
(3) changes in earned premiums of the Fund;
(4) changes in the number of policyholders of the Fund;
(5) the degree of the Fund's personnel flexibility;
(6) trends in the overall market share; and
(7) trends in the premium to expense ratio.
(b) Additional information.-
(1) On or before October 1 of each year, the Fund shall submit to the Governor:
(i) a copy of each policy form that the Fund will use during the next calendar year;
(ii) the schedule of premium rates that the Fund will charge for the next calendar year;
(iii) information about provision for claim payment, as defined in § 11-330(a) of the Insurance Article, for each class for which the Fund writes coverage; and
(iv) other information that the Governor requests about premium rates, including classes, financial information, and losses.
(2) (i) Information required under paragraph (1)(ii) through (iv) of this subsection shall be submitted on the form that the Governor requires.
(ii) the form shall conform as closely as possible to the form that a rating organization uses to comply with §§ 11-307, 11-329, and 11-330 of the Insurance Article.
[An. Code 1957, art. 101, § 71; 1991, ch. 8, § 2; 1997, ch. 70, § 4.]