This chapter applies to all life insurance companies and fraternal benefit societies that are authorized to: Do business in this State; or Reinsure life insurance, annuities, or accident and health business in this State. This chapter shall be applied in a manner that allows the appointed actuary to utilize his or her professional judgment in performing the asset analysis and in developing the actuarial opinion and supporting memoranda, consistent with relevant actuarial standards of practice. However, the Commissioner has the authority to specify specific methods of actuarial analysis and actuarial assumptions when, in the Commissioner's judgment, these specifications are necessary for an acceptable opinion to be rendered relative to the adequacy of reserves and related items. This chapter is applicable to all annual statements filed with the Insurance Commissioner after the effective date of this chapter in accordance with Insurance Article, §§4-116 and 8-444, Annotated Code of Maryland. In this chapter, the following terms have the meanings indicated. Terms Defined. “Actuarial opinion” means the opinion of an appointed actuary regarding the adequacy of reserves and related actuarial items based on an asset adequacy analysis in accordance with: Regulation .05 of this chapter; and Applicable actuarial standards of practice. “Actuarial Standards Board” means the board established by the American Academy of Actuaries to develop and promulgate standards of actuarial practice. “Annual statement” means the statement required in accordance with the provisions of Insurance Article, §§4-116 and 8-444, Annotated Code of Maryland, to be filed by the company with the Commissioner annually. “Appointed actuary” means an individual who is appointed or retained in accordance with the requirements set forth in Regulation .03B of this chapter to provide the actuarial opinion and supporting memorandum required by Insurance Article, §5-201, Annotated Code of Maryland. “Asset adequacy analysis” means an analysis: That meets the standards and other requirements referred to in Regulation .03C of this chapter; and Which may take many forms, including, but not limited to, cash flow testing, sensitivity testing, or applications of risk theory. “Company” means a life insurance company or a fraternal benefit society: Authorized to do business in this State; or Authorized to reinsure life insurance, annuities, or accident and health business in this State. “Qualified actuary” means an individual who: Is a member in good standing of the American Academy of Actuaries; Is qualified to sign statements of actuarial opinion for life and health insurance company annual statements in accordance with the American Academy of Actuaries qualification standards for actuaries signing these statements; Is familiar with the valuation requirements applicable to life and health insurance companies; Has not failed to notify the Commissioner of any adverse action taken by the insurance regulatory authority of any state similar to that in §B(7)(e)(i)-(v) of this regulation; and Has not been found by the Commissioner (or if so found has subsequently been reinstated as a qualified actuary), following appropriate notice and hearing, to have: Violated any provision of, or any obligation imposed by, the insurance law or other law in the course of the actuary's dealings as a qualified actuary; Been found guilty of fraudulent or dishonest practices; Demonstrated incompetency, lack of cooperation, or untrustworthiness to act as a qualified actuary; Submitted to the Commissioner during the past 5 years an actuarial opinion or memorandum pursuant to Regulations .05 and .06 of this chapter that the Commissioner rejected because it did not meet the provisions of these regulations, including standards set by the Actuarial Standards Board; or Resigned or been removed as an actuary within the past 5 years as a result of acts or omissions indicated in any adverse report on examination or as a result of failure to adhere to generally acceptable actuarial standards. Submission of Statement of Actuarial Opinion. There shall be included on or attached to page 1 of the annual statement for each year, beginning with the year in which this chapter becomes effective, the statement of an appointed actuary, entitled “Statement of Actuarial Opinion”, setting forth an opinion relating to reserves and related actuarial items held in support of policies and contracts, in accordance with Regulation .05 of this chapter. In the case of a statement of actuarial opinion required to be submitted by a foreign or alien company, the Commissioner may accept the statement of actuarial opinion filed by the company with the insurance regulator of another state if the Commissioner determines that the opinion reasonably meets the requirements applicable to a company domiciled in this State. Upon written request by the company and upon good cause shown, the Commissioner may grant an extension of the date for submission of the statement of actuarial opinion. Appointed Actuary. An appointed actuary is a qualified actuary who is appointed or retained to prepare the statement of actuarial opinion required by this chapter, either directly by, or by the authority of, the board of directors through an executive officer of the company other than the qualified actuary. The company shall: Give the Commissioner timely written notice of the name, title, and, in the case of a consulting actuary, the name of the firm, and manner of appointment or retention of each individual appointed or retained by the company as an appointed actuary; and State in the notice that the individual meets the requirements of a qualified actuary and is not disqualified under Regulation .02B(7) of this chapter. Once notice is furnished, further notice is not required with respect to this individual if the company gives the Commissioner timely written notice if the actuary ceases to be appointed or retained as an appointed actuary or to meet the requirements set forth in this chapter. If an individual appointed or retained as an appointed actuary replaces a previously appointed actuary, the notice shall so state and give the reasons for replacement. Standards for Asset Adequacy Analysis. The asset adequacy analysis required by this chapter shall: Conform to the standards of practice: As promulgated from time to time by the Actuarial Standards Board and any additional standards under this chapter; and Which are to form the basis of the statement of actuarial opinion in accordance with Regulation .05 of this chapter; and Be based on methods of analysis considered appropriate for these purposes by the Actuarial Standards Board. The statement of actuarial opinion shall apply to all the business the company has in force on the statement date, whether directly issued or assumed, regardless of when or where issued, for example, reserves of Exhibits 5, 6, and 7 of the Annual Statement, and claim liabilities in Exhibit 8, Part 1 of the Annual Statement, and equivalent items in the separate account statement or statements of a life insurance company, and corresponding items in the annual statements of other companies. If the appointed actuary determines as the result of asset adequacy analysis that a reserve should be held in addition to the aggregate reserve held by the company and calculated in accordance with methods set forth in accordance with the requirements of the Insurance Article, Title 5, Subtitle 3 (The Standard Valuation Law), Annotated Code of Maryland, and regulations adopted under it, the company shall establish the additional reserve. Additional reserves established under §B of this regulation and considered not necessary in subsequent years may be released. Any amounts released shall be disclosed in the actuarial opinion for the applicable year. The release of these reserves is not considered an adoption of a lower standard of valuation. General. The statement of actuarial opinion submitted in accordance with this regulation shall consist of: A paragraph identifying the appointed actuary and the actuary's qualifications as required by §B(5) of this regulation; A scope paragraph identifying: The subjects on which an opinion is to be expressed and describing the scope of the appointed actuary's work, including a tabulation delineating the reserves and related actuarial items which have been analyzed for asset adequacy and the method of analysis as required by §B(6) of this regulation; and The reserves and related actuarial items covered by the opinion which have not been so analyzed; A reliance paragraph describing those areas, if any, where the appointed actuary has deferred to other experts in developing data, procedures, or assumptions, for example, anticipated cash flows from currently owned assets (including variation in cash flows according to economic scenarios in §B(7) of this regulation) supported by a statement of each expert in the form prescribed by §E of this regulation; and An opinion paragraph expressing the appointed actuary's opinion with respect to the adequacy of the supporting assets to mature the liabilities as required by §B(10) of this regulation. One or more additional paragraphs are required in individual company cases if the appointed actuary: Considers it necessary to state a qualification of the actuary's opinion; Must disclose an inconsistency in the method of analysis or basis of asset allocation used at the prior opinion date with that used for this opinion; Must disclose whether additional reserves as of the prior opinion date are released as of this opinion date, and the extent of the release; or Chooses to add a paragraph briefly describing the assumptions which form the basis for the actuarial opinion. Required Language. The language in §B(5)—(13) of this regulation, or language substantially similar, shall be used in the statement of actuarial opinion in accordance with this section. The required language is that which in typical circumstances should be included in a statement of actuarial opinion. The required language may be modified as needed to meet the circumstances of a particular case, but the appointed actuary should use language which clearly expresses the actuary's professional judgment and which indicates why the required language was not used. The opinion shall retain all pertinent aspects of the language provided in this regulation. The opening paragraph shall generally indicate the appointed actuary's relationship to the company and the actuary's qualifications to sign the opinion in the following manner: For a company actuary, the opening paragraph of the actuarial opinion should read as follows: “I, {name}, am {title} of {insurance company name} and a member of the American Academy of Actuaries. I was appointed by, or by the authority of, the Board of Directors of said insurer to render this opinion as stated in the letter to the Commissioner dated {insert date}. I meet the Academy qualification standards for rendering the opinion and am familiar with the valuation requirements applicable to life and health insurance companies.”; and For a consulting actuary, the opening paragraph shall contain a statement identical or similar to: “I, {name}, a member of the American Academy of Actuaries, am associated with the firm of {name of consulting firm}. I have been appointed by, or by the authority of, the Board of Directors of {name of company} to render this opinion as stated in the letter to the Commissioner dated {insert date}. I meet the Academy qualification standards for rendering the opinion and am familiar with the valuation requirements applicable to life and health insurance companies.” The scope paragraph shall include a statement identical or similar to the following: The additional actuarial reserves are the reserves established under Regulation .04B of this chapter. The appointed actuary should indicate the method of analysis, determined in accordance with the standards for asset adequacy analysis referred to in Regulation .03C of this chapter, by means of symbols that should be defined in footnotes to the table. Allocated Amount of Asset Valuation Reserve (AVR). Reliance Paragraph—Other Experts. If the appointed actuary has relied on other experts to develop certain portions of the analysis, the reliance paragraph shall include a statement such as the following: A statement of reliance on other experts should be accompanied by a statement by each of these experts in the form prescribed by §E of this regulation. If the appointed actuary has examined the underlying asset and liability records, the reliance paragraph shall also include the following: Underlying Records Not Examined. If the appointed actuary has not examined the underlying records, but has relied upon listings and summaries of policies in force, or asset records prepared by the company or a third party, or both, the reliance paragraph shall include a statement identical or similar to: “In forming my opinion on {specify types of reserves}, I have relied upon listings and summaries {of policies and contracts, of asset records} prepared by {name and title of company officer certifying in-force records} as certified in the attached statement. I evaluated that data for reasonableness and consistency. I also reconciled that data to {exhibits and schedules to be listed as applicable} of the company's current annual statement. In other respects my examination included review of the actuarial assumptions and actuarial methods and tests of the actuarial calculations as I considered necessary.” The reliance paragraph in §B(9)(a) of this regulation shall be accompanied by a statement by each person relied upon in the form prescribed by §E of this regulation. The opinion paragraph shall include the following: "In my opinion the reserves and related actuarial values concerning the statement items identified above: Are computed in accordance with presently accepted actuarial standards consistently applied and are fairly stated, in accordance with sound actuarial principles; Are based on actuarial assumptions which produce reserves at least as great as those called for in any contract provision as to reserve basis and method, and are in accordance with all other contract provisions; Meet the requirements of the insurance law and regulations of the state of {state of domicile} and are at least as great as the minimum aggregate amounts required by the state in which that statement is filed; Are computed on the basis of assumptions consistent with those used in computing the corresponding items in the annual statement of the preceding year-end (with any exceptions noted below); and Include provision for all actuarial reserves and related statement items which ought to be established. The reserves and related items, when considered in light of the assets held by the company with respect to such reserves and related actuarial items including, but not limited to, the investment earnings on such assets, and the considerations anticipated to be received and retained under such policies and contracts, make adequate provision, according to presently accepted actuarial standards of practice for the anticipated cash flows required by the contractual obligations and related expenses of the company. (At the discretion of the Commissioner, this language may be omitted for an opinion filed on behalf of a company doing business only in this State and in no other state.) The actuarial methods, considerations, and analysis used in forming my opinion conform to the appropriate Standards of Practice as promulgated by the Actuarial Standards Board, which standards form the basis of this statement of opinion." The opinion paragraph shall include either of the following, whichever is applicable: “This opinion is updated annually as required by statute. To the best of my knowledge, there have been no material changes from the applicable date of the annual statement to the date of the rendering of this opinion which should be considered in reviewing this opinion.”; or “The following material change(s) which occurred between the date of the statement for which this opinion is applicable and the date of this opinion should be considered in reviewing this opinion.” The opinion paragraph shall include the following: “The impact of unanticipated events subsequent to the date of this opinion is beyond the scope of this opinion. The analysis of the asset adequacy portion of this opinion should be viewed recognizing that the company's future experience may not follow all the assumptions used in the analysis.” The opinion paragraph shall include the signature of the appointed actuary, the address of the appointed actuary, the telephone number of the appointed actuary, and the date. “My examination included such review of the actuarial assumptions and actuarial methods and of the underlying basic asset and liability records and such tests of the actuarial calculations as I considered necessary. I also reconciled the underlying basic asset and liability records to {exhibits and schedules listed as applicable} of the company's current annual statement.” Assumptions for New Issues. The adoption for new issues or new claims or other new liabilities of an actuarial assumption which differs from a corresponding assumption used for prior new issues or new claims or other new liabilities is not a change in actuarial assumptions within the meaning of this regulation. Adverse Opinions. If the appointed actuary is unable to form an opinion, then the actuary shall refuse to issue a statement of actuarial opinion. If the appointed actuary's opinion is adverse or qualified, then the actuary shall issue an adverse or qualified actuarial opinion explicitly stating the reason or reasons for the opinion. This statement should follow the scope paragraph and precede the opinion paragraph. Reliance on Data Furnished by Other Persons. If the appointed actuary relies on the certification of others on matters concerning the accuracy or completeness of any data underlying the actuarial opinion, or the appropriateness of any other information used by the appointed actuary in forming the actuarial opinion, the actuarial opinion should so indicate the persons the actuary is relying upon and a precise identification of the items subject to reliance. In addition, the persons on whom the appointed actuary relies shall provide a certification that precisely identifies the items on which the person is providing information and a statement as to the accuracy, completeness, or reasonableness, as applicable, of the items. The certification statement shall be identical or similar to one of the following: “I {name of officer}, {title}, of {name of company or accounting firm}, hereby affirm that the listings and summaries of policies and contracts in force as of December 31, 20{ }, and other liabilities prepared for and submitted to {name of appointed actuary} were prepared under my direction and, to the best of my knowledge and belief, are substantially accurate and complete. Signature of the Officer of the Company or Accounting Firm, Address of the Officer of the Company or Accounting Firm, Telephone Number of the Officer of the Company or Accounting Firm, Date”; or “I, {name of officer}, {title}, of {name of company, accounting firm, or security analyst}, hereby affirm that the listings, summaries, and analysis relating to data prepared for and submitted to {name of appointed actuary} in support of the asset-oriented aspects of the opinion were prepared under my direction and, to the best of my knowledge and belief, are substantially accurate and complete. Signature of the Officer of the Company, Accounting Firm or the Security Analyst; Address of the Officer of the Company, Accounting Firm or the Security Analyst; Telephone Number of the Officer of the Company, Accounting Firm or the Security Analyst, Date” Alternate Option. Insurance Article, Title 5, Subtitle 3, Annotated Code of Maryland (The Standard Valuation Law), gives the Commissioner broad authority to accept the valuation of a foreign insurer when that valuation meets the requirements applicable to a company domiciled in this State in the aggregate. As an alternative to the requirements in §B(10)(a)(iii) of this regulation, the Commissioner may make one or more of the additional approaches listed in §F(2)—(4) of this regulation available to the opinion actuary. Option 1. A statement that the reserves “meet the requirements of the insurance laws and regulations of the state of {state of domicile} and the formal written standards and conditions of this State for filing an opinion based on the law of the state of domicile” may be used. If the Commissioner chooses to allow this alternative, a formal written list of standards and conditions shall be made available. If a company chooses to use this alternative, the standards and conditions in effect on July 1 of a calendar year shall apply to statements for that calendar year, and they shall remain in effect until they are revised or revoked. If no list is available, this alternative is not available. Option 2. A statement that the reserves “meet the requirements of the insurance laws and regulations of the State of {state of domicile}, and I have verified that the company's request to file an opinion based on the law of the state of domicile has been approved and that any conditions required by the Commissioner for approval of that request have been met” may be used. If the Commissioner chooses to allow this alternative, a formal written statement for the allowance shall be issued not later than March 31 of the year it is first effective. It shall remain valid until rescinded or modified by the Commissioner. The rescission or modifications shall be issued not later than March 31 of the year they are first effective. Subsequent to the statement in §F(3)(a) of this regulation being issued, if a company chooses to use this alternative, the company shall file a request to do so, along with justification for its use, not later than April 30 of the year of the opinion to be filed. The request shall be deemed approved on October 1 of that year if the Commissioner has not denied the request by that date. Option 3. A statement that the reserves “meet the requirements of the insurance laws and regulations of the State of {state of domicile}, and I have submitted the required comparison as specified by this state” may be used. If the Commissioner chooses to allow this alternative, a formal written list of products for which the required comparison shall be provided will be published. If a company chooses to use this alternative, the list in effect on July 1 of a calendar year shall apply to statements for that calendar year, and it shall remain in effect until it is revised or revoked. If no list is available, this alternative is not available. If a company desires to use this alternative, the appointed actuary shall provide a comparison of the gross nationwide reserves held to the gross nationwide reserves that would be held under NAIC codification standards. Gross nationwide reserves are the total reserves calculated for the total company in-force business directly sold and assumed, indifferent to the state in which the risk resides, without reduction for reinsurance ceded. The information provided shall be at least product type, death benefit or account value, reserves held, codification reserves, and codification standard. The information listed shall include all products identified by either the state of filing or any other states subscribing to this alternative. If there is no codification standard for the type of product or risk in force or if the codification standard does not directly address the type of product or risk in force, the appointed actuary shall provide detailed disclosure of the specific method and assumptions used in determining the reserves held. The comparison provided by the company is to be kept confidential to the same extent and under the same conditions as the actuarial memorandum. Notwithstanding other provisions of this regulation, the Commissioner may reject an opinion based on the laws and regulations of the state of domicile and require an opinion based on the laws of Maryland. If a company is unable to provide the opinion within 60 days of the request or other period of time determined by the Commissioner after consultation with the company, the Commissioner may contract an independent actuary at the company's expense to prepare and file the opinion. National Association of Insurance Commissioner's 2005 Annual Statement Blank. General. In accordance with Insurance Article, §5-201, Annotated Code of Maryland, the appointed actuary shall prepare a memorandum to the company describing the analysis done in support of the actuary's opinion regarding the reserves. The memorandum shall be made available for examination by the Commissioner upon the Commissioner's request. In preparing the memorandum, the appointed actuary may rely on, and include as a part of the actuary's own memorandum, memoranda prepared and signed by other actuaries who are qualified within the meaning of Regulation .02B(7) of this chapter, with respect to the areas covered in those memoranda, and so state in their memoranda. Memoranda. If the Commissioner requests a memorandum, the Commissioner may designate a qualified actuary to review the opinion and prepare a supporting memorandum, if: No memorandum exists; or The Commissioner finds that the analysis described in the memorandum fails to meet the standards of the Actuarial Standards Board or the standards and requirements of this chapter. The reasonable and necessary expense of the independent review shall be paid by the company, but the review shall be directed and controlled by the Commissioner. Company Data. The reviewing actuary has the same status as an examiner for purposes of obtaining data from the company. The work papers and documentation of the reviewing actuary shall be retained by the Commissioner. Information provided by the company to the reviewing actuary and included in the work papers: Is considered as material provided by the company to the Commissioner; and Shall be kept confidential to the same extent as is prescribed by law with respect to other material provided by the company to the Commissioner pursuant to Insurance Article, §2-209, Annotated Code of Maryland. The reviewing actuary may not be an employee of a consulting firm involved with the preparation of any prior memorandum or opinion for the company pursuant to this regulation for the current year or any one of the preceding 3 years. Asset Adequacy Issues Summary. In accordance with Insurance Article, §5-201, Annotated Code of Maryland, the appointed actuary shall prepare a regulatory asset adequacy issues summary, the contents of which are specified in §D of this regulation. The regulatory asset adequacy issues summary shall be submitted not later than March 15 of the year following the year for which a statement of actuarial opinion based on asset adequacy is required. The regulatory asset adequacy issues summary shall be kept confidential to the same extent and under the same conditions as the actuarial memorandum. Details of Memorandum Section Documenting Asset Adequacy Analysis. When an actuarial opinion under Regulation .05 of this chapter is provided, the memorandum shall demonstrate that the analysis has been done in accordance with the standards for asset adequacy analysis referred to in Regulation .03C of this chapter and any additional standards under this chapter. It shall specify: For reserves: Product descriptions including market description, underwriting, and other aspects of a risk profile, and the specific risks the appointed actuary considers significant; Source of liability in force; Reserve method and basis; Investment reserves; Reinsurance arrangements; Identification of any explicit or implied guarantees made by the general account in support of benefits provided through a separate account or under a separate account policy or contract, and the methods used by the appointed actuary to provide for the guarantees in the asset adequacy analysis; and Documentation of assumptions to test reserves for the following: Lapse rates (both base and excess); Interest crediting rate strategy; Mortality; Policyholder dividend strategy; Competitor or market interest rate; Annuitization rates; Commissions and expenses; and Morbidity; For assets: Portfolio descriptions, including a risk profile disclosing the quality, distribution, and types of assets; Investment and disinvestment assumptions; Source of asset data; Asset valuation bases; and Documentation of assumptions made for: Default costs; Bond call function; Mortgage prepayment function; Determining market value for assets sold due to disinvestment strategy; and Determining yield on assets acquired through the investment strategy; For the analysis basis: Methodology; Rationale for inclusion/exclusion of different blocks of business and how pertinent risks were analyzed; Rationale for degree of rigor in analyzing different blocks of business, including the level of materiality that was used in determining how rigorously to analyze different blocks of business; Criteria for determining asset adequacy, including the precise basis for determining if assets are adequate to cover reserves under moderately adverse conditions or other conditions as specified in relevant actuarial standards of practice; and Whether the impact of federal income taxes was considered and the treatment of reinsurance in the asset adequacy analysis; Summary of material changes in methods, procedures, or assumptions from the prior year's asset adequacy analysis; Summary of results; and Conclusion or conclusions. In §B(1) and (2) of this regulation, the documentation of the assumptions shall be such that an actuary reviewing the actuarial memorandum could form a conclusion as to the reasonableness of the assumptions. Details of the Regulatory Asset Adequacy Issues Summary. The regulatory asset adequacy issues summary shall include: Descriptions of the scenarios tested, including whether those scenarios are stochastic or deterministic, and the sensitivity testing done relative to those scenarios as follows: If negative ending surplus results under certain tests in the aggregate, the actuary should describe those tests and the amount of additional reserve as of the valuation date which, if held, would eliminate the negative aggregate surplus values; and Ending surplus values shall be determined by either extending the projection period until the in-force and associated assets and liabilities at the end of the projection period are immaterial or by adjusting the surplus amount at the end of the projection period by an amount that appropriately estimates the value that can reasonably be expected to arise from the assets and liabilities remaining in force; The extent to which the appointed actuary uses assumptions in the asset adequacy analysis that are materially different than the assumptions used in the previous asset adequacy analysis; The amount of reserves and the identity of the product lines that had been subjected to asset adequacy analysis in the prior opinion but were not subject to analysis for the current opinion; Comments on any interim results that may be of significant concern to the appointed actuary, for example, the impact of the insufficiency of assets to support the payment of benefits and expenses and the establishment of statutory reserves during one or more interim periods; The methods used by the actuary to recognize the impact of reinsurance on the company's cash flows, including both assets and liabilities, under each of the scenarios tested; and Whether the actuary has been satisfied that all options whether explicit or embedded, in any asset or liability, including but not limited to those affecting cash flows embedded in fixed income securities, and equity-like features in any investments, have been appropriately considered in the asset adequacy analysis. The regulatory asset adequacy issues summary shall contain the name of the company for which the regulatory asset adequacy issues summary is being supplied and shall be signed and dated by the appointed actuary rendering the actuarial opinion. Conformity to Standards of Practice. The memorandum shall include a statement: Use of Assets Supporting the Interest Maintenance Reserve and the Asset Valuation Reserve. An appropriate allocation of assets in the amount of the interest maintenance reserve (IMR), whether positive or negative, shall be used in any asset adequacy analysis. Analysis of risks regarding asset default may include an appropriate allocation of assets supporting the asset valuation reserve (AVR), and these AVR assets may not be applied for any other risks with respect to reserve adequacy. Analysis of these AVR assets and other risks may include assets supporting other mandatory or voluntary reserves available to the extent not used for risk analysis and reserve support. The amount of the assets used for the AVR shall be disclosed in the Table of Reserves and Liabilities of the opinion and in the memorandum. The method used for selecting particular assets or allocated portions of assets shall be disclosed in the memorandum. Documentation. The appointed actuary shall retain on file, for at least 7 years, sufficient documentation so that it will be possible to determine: The procedures followed; The analyses performed; The basis for assumptions; and The results obtained. A statement of opinion on the adequacy of the reserves and related actuarial items based on an asset adequacy analysis in accordance with Regulation .05 of this chapter, and a memorandum in support of the analysis in accordance with Regulation .06 of this chapter, is required each year. Insurance Article, §§2-109(a)(1), 4-116, 5-103, 5-201, 8-444, and 14-121, Annotated Code of Maryland Effective date: Regulations .01—.10 adopted as an emergency provision effective October 26, 1993 (20:23 Md. R. 1799); adopted permanently effective January 31, 1994 (21:2 Md. R. 98) Chapter recodified from COMAR 09.30.99 to COMAR 31.05.01 effective September 7, 1998 (25:18 Md. R. 1439) Regulations .01—.10 repealed and new Regulations .01—.07 adopted as an emergency provision effective March 13, 2009 (36:8 Md. R. 592); adopted permanently effective June 1, 2009 (36:11 Md. R. 787) Regulation .06D amended effective April 2, 2012 (39:6 Md. R. 412)