(a) The Commission may assess an insurer $300 if:
(1) the insurer fails to comply with the requirements of the Commission about certification of insurance with the Commission; and
(2) the Commission finds that the Fund or the Commission was required to investigate or attend a hearing to determine whether an employer has insurance.
(b) The Commission may assess the insurer an additional $300 for each subsequent failure to comply with the insurance certification requirements of the Commission.
(c) The Commission shall direct payment of an assessment under subsection (a) or (b) of this section into the Fund.
(d) If an insurer fails to comply with the insurance certification requirements of the Commissioner 5 times in a fiscal year, the Commission may:
(1) notify the Insurance Commissioner; and
(2) request that the insurer show cause why the Insurance Commissioner should not impose sanctions under § 4-113(d) of the Insurance Article.