Md. Code Regs. 14.09.14.09 - Reporting Requirements and Corrective Action Plans
A. The Board of Trustees shall:
(1) Submit quarterly reports regarding the
status or condition of investments made pursuant to this chapter, including
quarterly investment statements; and
(2) Submit any additional information
requested by the Commission under §B of this regulation.
B. The Commission may direct the
Board of Trustees to submit to the Commission:
(1) A written explanation of its investment
strategy and performance;
(2) A
written proposed corrective action plan; and
(3) Any additional information concerning
these investments that the Commission deems relevant.
C. The Commission may order the Board of
Trustees to implement a corrective action plan, to convert its investments to
the investments authorized in Regulation .07B of this chapter, and to take any
other action the Commission deems necessary.
D. The Commission shall serve an order issued
under §C of this regulation on the Board of Trustees by certified and
regular mail.
E. If aggrieved by a
decision of the Commission under this regulation, the Board of Trustees may
request a hearing before the Commission in accordance with Regulation .10 of
this chapter.
F. The Commission may
terminate a fund from participation in the governmental group self-insurance
program for failing to comply with an order of the Commission under this
chapter.
Notes
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