(a) A carrier that is subject to, governed by, and compliant with the privacy, security, and breach notification rules issued by the U.S. Department of Health and Human Services, 45 C.F.R. Parts 160 and 164, established under the Health Insurance Portability and Accountability Act of 1996, and the Health Information Technology for Economic and Clinical Health Act, and that maintains nonpublic information in the same manner as protected health information:

(1) shall be deemed to be in compliance with §§ 33-103 and 33-104 of this title; and

(2) must comply with § 33-105(a) through (d) of this title.

(b) A carrier that is subject to, governed by, and in compliance with § 33-103 of this title shall be deemed to be in compliance with §§ 14-3502 and 14-3503 of the Commercial Law Article.