SCHEDULE O
(Form 990)

Department of the Treasury
Internal Revenue Service
Supplemental Information to Form 990 or 990-EZ

Complete to provide information for responses to specific questions on
Form 990 or 990-EZ or to provide any additional information.
MediumBullet Attach to Form 990 or 990-EZ.
MediumBullet Go to www.irs.gov/Form990 for the latest information.
OMB No. 1545-0047
2021
Open to Public
Inspection
Name of the organization
LIFE & HEALTH INSURANCE GUARANTY
CORPORATION
Employer identification number

52-1240061
Return Reference Explanation
FORM 990, PART VI, SECTION A, LINE 1A THE EXECUTIVE COMMITTEE SHALL CONSIST OF NO LESS THAN THREE NO MORE THAN FIVE DIRECTORS. THE EXECUTIVE COMMITTEE SHALL HAVE IN INTERVALS BETWEEN THE STATED MEETINGS OF THE BOARD OF DIRECTORS ALL OF THE POWERS AND AUTHORITY OF THE BOARD OF DIRECTORS, EXCEPT THAT IT SHALL NOT HAVE ANY AUTHORITY TO LEVY ANY ASSESSMENTS AS PROVIDED UNDER SECTION 9-409 OF THE INSURANCE ARTICLE AND SHALL NOT HAVE ANY OF THE POWERS BEYOND THOSE GRANTED IN THE BYLAWS. IT SHALL KEEP MINUTES OF ITS MEETINGS AND TRANSACTIONS. THE CHAIRMAN OF THE BOARD OF DIRECTORS SHALL BE A MEMBER AND ACT AS CHAIRMAN OF THE EXECUTIVE COMMITTEE.
FORM 990, PART VI, SECTION A, LINE 6 AS A CONDITION OF THE AUTHORITY TO TRANSACT THE BUSINESS OF INSURANCE IN THE STATE OF MARYLAND, ANY INSURER LICENSED TO WRITE ON A DIRECT BASIS ANY KIND OF INSURANCE TO WHICH THE LIFE AND HEALTH INSURANCE GUARANTY CORPORATION ACT, MARYLAND INSURANCE CODE, ANNOTATED, SECTION 9-401, APPLIES SHALL BE AND REMAIN A MEMBER OF THE CORPORATION (A "MEMBER"). ANY MEMBER WHOSE CERTIFICATION OF AUTHORITY HAS BEEN TERMINATED FOR WHATEVER REASON SHALL BE LIABLE FOR ANY ASSESSMENT BASED ON INSOLVENCIES OCCURRING PRIOR TO SUCH TERMINATION. ANY MEMBER WHO FAILS TO RESPOND TO ANY APPROPRIATE REQUEST FOR INFORMATION BY THE BOARD OF DIRECTORS WITHIN THE PERIOD SET FORTH IN SUCH REQUEST SHALL BE SUBJECT TO PENALTIES PROVIDED IN SECTION 9-411 (B)(2)OF THE INSURANCE ARTICLE. ANY MEMBER AGGRIEVED BY ANY FINAL ACTION OR DECISION OF THE CORPORATION MAY APPEAL TO THE MARYLAND COMMISSIONER OF INSURANCE (THE "COMMISSIONER") WITHIN 30 DAYS AFTER SAID ACTION OR DECISION.
FORM 990, PART VI, SECTION A, LINE 7A THE CHAIRMAN OF THE BOARD, FOLLOWING A RESOLUTION BY THE BOARD OF DIRECTORS, SHALL CALL AN ANNUAL MEETING OF THE MEMBERS TO ELECT DIRECTORS AND TRANSACT ANY OTHER BUSINESS WITHIN THE POWER OF THE CORPORATION, ON ANY DAY IN MARCH OF EACH YEAR IF NOT A LEGAL HOLIDAY, OR AT SUCH OTHER TIME ON SUCH OTHER DAY FALLING ON OR BEFORE THE 30TH DAY THEREAFTER. EXCEPT AS THE ACT OR STATUTE PROVIDES OTHERWISE, ANY BUSINESS MAY BE CONSIDERED AT AN ANNUAL MEETING WITHOUT THE PURPOSE OF THE MEETING HAVING BEEN SPECIFIED IN THE NOTICE. FAILURE TO HOLD AN ANNUAL MEETING DOES NOT INVALIDATE THE CORPORATION'S EXISTENCE OR AFFECT ANY OTHERWISE VALID CORPORATE ACTS.
FORM 990, PART VI, SECTION B, LINE 11B A COPY OF THE FORM 990 IS PROVIDED TO THE ORGANIZATION'S GOVERNING BODY BEFORE IT IS FILED. THE BOARD REVIEWS THE FORM FOR ACCURACY AND COMPLETENESS.
FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION'S OFFICERS, DIRECTORS AND TRUSTEES ARE ASKED ANNUALLY IF THERE ARE ANY INTERESTS THAT COULD GIVE RISE TO A CONFLICT OF INTEREST, AND IF SO, THIS IS DISCUSSED WITH MANAGEMENT TO DETERMINE IF ANY ACTION IS REQUIRED. THE BOARD'S AIM IS TO COVER NOT ONLY ACTUAL CONFLICTS OF INTEREST, BUT ALSO THOSE SITUATIONS WHICH REASONABLY COULD LEAD TO A PERCEPTION THAT A CONFLICT OF INTEREST MAY EXIST. ACCORDINGLY, IT IS THE BOARD'S INTENT THAT THIS CODE BE INTERPRETED BROADLY. UNLESS OTHERWISE STATED, THE CONFLICT OF INTEREST RULES ARE INTENDED TO APPLY TO ALL LIFE AND HEALTH INSURANCE GUARANTY CORPORATION STAFF, EMPLOYEES, AND ALL LIFE AND HEALTH INSURANCE GUARANTY CORPORATION BOARD MEMBERS. IF THE BOARD OR ANY COMMITTEE OF THE LIFE AND HEALTH INSURANCE GUARANTY CORPORATION BECOMES AWARE OF THE PRESENCE OF AN OBSERVER WHO MIGHT BE IN A CONFLICT POSITION WITH RESPECT TO MATTERS UNDER DELIBERATION, THE CHAIR THEREOF SHALL ASK THAT THE OBSERVER IMMEDIATELY ABSENT HIM OR HERSELF FROM THE DELIBERATIONS.
FORM 990, PART VI, SECTION B, LINE 15A COMPENSATION FOR THE EXECUTIVE DIRECTOR IS SET BY INDEPENDENT MEMBERS OF THE BOARD USING ANNUAL COMPARABILITY DATA. THE PROCESS IS THOROUGHLY DOCUMENTED.
FORM 990, PART VI, SECTION C, LINE 19 LIFE AND HEALTH INSURANCE GUARANTY MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. GOVERNING DOCUMENTS ARE REQUIRED TO BE SENT TO INSUREDS WHO HAVE POLICIES WHICH MEET OR EXCEED LIMITS SET IN OUR STATUTE. ADDITIONALLY, THE GOVERNING DOCUMENTS ARE TO BE APPROVED BY THE MARYLAND INSURANCE ADMINISTRATION, IF PART OF THE CONTRACT. IF A SEPARATE DOCUMENT, COMAR 31.04.14 REGULATION IS TO BE USED.
For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990-EZ.
Cat. No. 51056K
Schedule O (Form 990) 2021


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