For a trust to receive and retain certification as a certified blind trust in accordance with this subtitle, the trust shall be presented for certification in accordance with the procedures set forth in Regulations .02—.06 of this chapter. Interested parties and the trustee shall comply with the continuing monitoring and compliance requirements of this chapter. A request for certification of a blind trust shall be in writing addressed to the Commission. Before a trust can be certified, each proposed trust document and proposed trustee shall be approved by the Commission. Appropriate documentation to establish the independence of the trustee shall be provided to the Commission with the request for certification, on an executed Certificate of Independence form to be established by the Commission. A trust shall be certified in writing by the Commission based upon a determination that: The trust is in compliance with the provisions of this subtitle; The trust meets the statutory criteria of General Provisions Article, §§5-501 and 5-502, Annotated Code of Maryland; and Reliance on the trust by the official or employee is not contrary to the purposes of General Provisions Article, Title 5, Annotated Code of Maryland. Within 30 days after certification of a trust by the Commission, the official or employee shall file with the Commission a: Certified copy of the executed trust instrument of the trust; and List of the holdings transferred to the trust with the value of each as of the date of transfer. The list of holdings provided pursuant to §A(2) of this regulation shall be available for public inspection and copying in accordance with General Provisions Article, §5-606, Annotated Code of Maryland. The trustee shall, within 30 days after the end of any calendar year in which the trust is in effect, submit a Certificate of Compliance to the Commission on a form established by the Commission certifying the trust's continued compliance with the provisions of this chapter. The trustee shall maintain the books of account and other records of the trust and copies of the trust's tax returns, and make them available for inspection and copying at the times requested by the Commission or the Commission's staff. The Commission shall maintain a continued assessment of the appropriateness of any approval of a trustee or certification of a trust. If, based on information obtained in review of records or from any other source, the Commission has reason to believe that continued approval or certification is no longer appropriate, it shall provide notice to the official or employee of the intention to revoke the approval or certification, and provide the official or employee an opportunity to be heard by the Commission in informal procedures consistent with the Commission's advisory opinion process as set forth in COMAR 19A.01.02. Failure by any interested party or the trustee to comply with the provisions of these regulations or General Provisions Article, Title 5, Annotated Code of Maryland, if related to the trust, shall result in revocation of the certification and make the official or employee subject to any appropriate enforcement or other action for violation of the provisions of General Provisions Article, Title 5, Annotated Code of Maryland, from the point in time where the failure to comply occurred. Within 60 days of termination of a trust for any reason as set forth in COMAR 19A.06.02.04H the official or employee shall file a public financial disclosure statement in accordance with the provisions of General Provisions Article, §5-607, Annotated Code of Maryland, disclosing the assets of the trust as of the date of termination. An exception allowed from the participation and interest prohibitions of General Provisions Article, §§5-501 and 5-502, Annotated Code of Maryland, becomes void and of no effect when a trust is terminated for any reason. During the existence of a blind trust certified in accordance with this chapter, the official or employee may propose a substitute or successor trustee. The request for certification of a substitute or successor trustee shall be in writing and include all appropriate documentation and information as required by Regulation .02 of this chapter. The Commission shall approve a substitute or successor trustee: As set forth in Regulation .02D of this chapter; and Consistent with the substantive requirements for trustees set forth in COMAR 19A.06.02.03. General Provisions Article, §§5-206, 5-501, 5-502, and 5-608, Annotated Code of Maryland Effective date: May 27, 1991 (18:10 Md. R. 1118) Regulation .01 amended effective April 7, 1997 (24:7 Md. R. 554) Regulation .05A amended effective January 16, 2017 (44:1 Md. R. 12) Regulation .07 adopted effective April 7, 1997 (24:7 Md. R. 554) Regulation .07 repealed effective January 16, 2017 (44:1 Md. R. 12)