1. (a) Except as provided in subsection (b) of this section, the Fund shall give prior written notice to a fund producer of its intended action under § 20-513 of this subtitle and give the fund producer an opportunity for a hearing before taking the action.

2. (b)

   1. (1) The Fund may exercise immediately any option under § 20-513 of this subtitle if the Fund determines that there is a likelihood of substantial and immediate harm to the Fund, its policyholders, or others because of:

      1. (i) a violation of a policy adopted by the Board of Trustees that relates to the binding of coverage; or
      2. (ii) a failure to pay money owed.
   2. (2) After taking an action under § 20-513 of this subtitle, the Fund promptly shall give notice to the fund producer and hold a hearing within 10 working days before a member of the Board of Trustees.
3. (c) The Board of Trustees shall adopt policies to provide procedures for notice and hearings under this section.

Added by Acts 1996, c. 11, § 1, eff. Oct. 1, 1997. Amended by Acts 2001, c. 731, § 1, eff. July 2, 2001; Acts 2017, c. 509, § 2, eff. July 1, 2017.

Formerly Art. 48A, § 243B.