A. In this chapter, a material change means one or more of the following conditions:
(1) PJM Interconnection, LLC has reduced the licensee's unsecured credit allowance to a level below $2,000,000;
(2) The licensee is denied credit by a Maryland electric company;
(3) At least two of the nationally recognized statistical rating organizations have reduced the licensee's rating by two or more grades, or to a level below investment grade;
(4) The licensee has filed for bankruptcy protection or been subjected to involuntary bankruptcy proceedings;
(5) The licensee has had a license revoked, suspended, or restricted in another state; or
(6) A parent corporation or other person who has undertaken to guarantee the licensee's financial integrity withdraws the guarantee.
B. Within 10 business days of a material change, a licensed electricity supplier shall:
(1) Update or supplement the information required in the application under COMAR 20.51.02.02B(1), (4) and (5); and
(2) File a copy of the updated or supplemental information with the Commission.
C. Except for information pertaining to the financial integrity of the licensee, a licensee shall provide to the Commission annual updates of the information required in the application under COMAR 20.51.02. The annual update required by this section shall be filed within 120 days of the close of the fiscal year of the licensee.
D. A licensed electricity supplier shall provide additional information as may be required by the Commission.