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Session Laws, 1955
Volume 620, Page 1041   View pdf image (33K)
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THEODORE R. McKELDIN, GOVERNOR                  1041

provided that the beneficiary or next of kin of the deceased supply-
said Company or Association with an affidavit to the effect that the
only assets left by said decedent are the proceeds of life insurance
policies of not more than the amount specified.] (Payment of Insur-
ance Without Letters of Administration.) Whenever it shall appear
that a resident of this State has died intestate leaving an estate which
consists of assets or property, including life insurance proceeds, in
a total amount not exceeding $500.00 the insurer may, at its option,
pay such life insurance proceeds to the surviving spouse, or to a
child or children of the decedent, or to a surviving parent, without
the necessity of the grant of Letters of Administration, provided
such person or persons shall furnish the insurer with an affidavit to
the effect that the entire estate of the decedent, including such in-
surance proceeds, is in a total amount not exceeding $500.00. If any
such person is a minor, the insurer may, at its option, make payment
of the share of such minor to any institution, or to any person related
to the minor, having custody of such minor, without requiring such
institution or related person to be appointed the legal guardian of
such minor. Payment by the insurer under the provisions of this
section, or under the provisions of a facility of Payment clause in
any life insurance policy, shall discharge the insurer from all further
liability with respect to such insurance proceeds.

SEC. 2. And be it further enacted, That this Act shall take effect
June 1, 1955.

Approved April 25, 1955.

CHAPTER 633
(House Bill 191)

AN ACT to repeal and re-enact, with amendments, Sub-sections 3 and
4 of Section 120 of Article 21 of the Annotated Code of Maryland
(1951 Edition), title "Conveyancing", sub-title "Land Installment
Contracts", requiring the inclusion of additional provisions in all
Land Installment contracts relating to

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notices received by the vendor
from any public agency requiring any repairs or improvements to
any property to be conveyed by any such contract.

SECTION 1. Be it enacted by the General Assembly of Maryland,
That Sub-sections 3 and 4 of Section 120 of Article 21 of the Anno-
tated Code of Maryland (1951 Edition), title "Conveyancing", sub-
title "Land Installment Contracts", be and the same are hereby
repealed and re-enacted, with amendments, to read as follows:

120.

(3) Every land installment contract shall contain

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EXPLANATION: Italics indicate new matter added to existing law.
[Brackets] indicate matter stricken from existing law.
CAPITALS indicate amendments to bill.
Strike out indicates matter stricken out of bill.

 

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Session Laws, 1955
Volume 620, Page 1041   View pdf image (33K)
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