Regulation .02 of this chapter is applicable to a person who acts as an insurer in this State, including dental plan organizations, fraternal benefit societies, health maintenance organizations, and nonprofit health service plans. Regulations .03 and .04 of this chapter are applicable to a person who acts as an insurer in this State, including dental plan organizations, fraternal benefit societies, health maintenance organizations, nonprofit health service plans, and accredited reinsurers. In this regulation, “accreditated state” means a state in which its insurance regulatory agency meets the accreditation requirements of the National Association of Insurance Commissioners in accordance with its Financial Regulation Standards and Accreditation Program. Except as provided in §C of this regulation, the Commissioner shall examine each foreign authorized insurer or alien authorized insurer whenever the Commissioner considers advisable and at least once every 5 years. Exception. Instead of conducting an examination of the foreign authorized insurer or the alien authorized insurer, the Commissioner may accept a full report of the last examination made of the insurer and certified by the insurance supervisory official of the state of domicile of a foreign authorized insurer or the state of entry of an alien authorized insurer. On and after January 1, 1994, the Commissioner may accept the report of examination only from an accreditated state whose insurance regulatory agency conducted the examination. If the report of examination is from an insurance regulatory agency of a nonaccreditated state, the Commissioner may accept the report only if the examination: Is performed under the supervision of an insurance regulatory agency of an accreditated state; or Is performed with the participation of one or more examiners who: Are employed by the insurance regulatory agency of an accreditated state, and After a review of the work papers and report of the examination, state under oath that the examination is performed in accordance with the standards and procedures required by the accreditated state of the examiner. This regulation applies to: A person subject to examination under Insurance Article, §2-205, Annotated Code of Maryland; A nonprofit health service plan subject to examination under Insurance Article, §14-125, Annotated Code of Maryland; A fraternal benefit society subject to examination under Insurance Article, §8-461 or 8-462, Annotated Code of Maryland; A fronting reinsurer subject to examination under Insurance Article, §13-116, Annotated Code of Maryland; An accredited reinsurer subject to examinationunder Insurance Article, Title 5, Subtitle 9, Annotated Code of Maryland; A dental plan organization subject to examination under Insurance Article, §14-411, Annotated Code of Maryland; or A health maintenance organization subject to examination under Insurance Article, §2-205(b)(1)(v), Annotated Code of Maryland. The Commissioner, or an examiner designated by the Commissioner, shall conduct an examination authorized under Insurance Article, Annotated Code of Maryland, or Health-General Article, Annotated Code of Maryland, in accordance with the Examiners' Handbook adopted by the National Association of Insurance Commissioners and any other guidelines or procedures considered necessary by the Commissioner. Time Period for Completion and Filing Report. Within 60 days after the completion of an examination conducted under Insurance Article, Annotated Code of Maryland, or Health-General Article, Annotated Code of Maryland, each examiner in charge of the examination shall prepare for filing with the Commissioner a verified written report of the examination. At least 30 days before filing the report in the office of the Commissioner, the Commissioner shall give a copy of the report to the person that was examined. If the person requests a hearing, in writing, within the 30-day period, the Commissioner shall grant a hearing on the report. A person who is required under Insurance Article, Annotated Code of Maryland, or Health-General Article, Annotated Code of Maryland, to file an annual financial statement, interim financial statement, audited financial report, or annual actuarial opinion shall prepare the documents in accordance with the Annual Statement Instructions and the Accounting Practices and Procedures Manual adopted by the National Association of Insurance Commissioners. Health-General Article, §§19-717 and 19-718; Insurance Article, §§2-109, 2-205, 2-207, 2-208, 2-209, 3-303, 3-318, 3-319, 4-116, 5-201, 5-903, 5-904, 8-461, 8-462, 13-116, 14-125, and 14-411; Annotated Code of Maryland Effective date: Regulations .01—.04 adopted as an emergency provision effective June 17, 1993 (20:14 Md. R. 1164); adopted permanently effective October 11, 1993 (20:20 Md. R. 1570) Chapter recodified from COMAR 09.30.58 to COMAR 31.04.01 effective September 7, 1998 (25:18 Md. R. 1439) Regulation .01B amended effective June 20, 2016 (43:12 Md. R. 668) Regulation .03A amended effective June 20, 2016 (43:12 Md. R. 668)