31.04.21.03

.03 Examination of Rate Filings by an Actuarial Consultant.

A. Whenever the Commissioner considers it advisable, the Commissioner may retain an actuarial consultant to examine a rate filing submitted by an advisory organization, carrier, or rating organization.

B. If the Commissioner retains an actuarial consultant to examine a rate filing submitted by an advisory organization, carrier, or rating organization the Commissioner shall notify the advisory organization, carrier, or rating organization that the Commissioner has retained an actuarial consultant to examine the rate filing.

C. The Commissioner or the actuarial consultant shall make a complete report of the examination in accordance with the provisions of Insurance Article, §2-209, Annotated Code of Maryland.

D. The advisory organization, carrier, or rating organization shall pay the expenses for the actuarial consultantís examination of a rate filing in accordance with the provisions of Insurance Article, §2-208, Annotated Code of Maryland.