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Session Laws, 1963
Volume 671, Page 1215   View pdf image (33K)
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J. MILLARD TAWES, Governor                     1217

in the business of burial insurance shall be subject to and shall comply
with all of the provisions of this article concerning the organization,
qualification and conduct of life insurers. Nothing in this section shall
be construed to limit or restrict the definitions of life insurance or
life insurer under Sections 63 and 64.

489. Commissioner Designated Fire Marshal.

The Commissioner shall, in addition to the duties imposed upon him
by this article, be and he is hereby designated ex officio Fire Marshal.

Sec. 2. And be it further enacted, That

(a)   The expiration dates of certificates of authority and licenses
in force immediately prior to the effective date of this Act, and law-
fully existing under any law repealed by this Act, are extended until
the first renewal or expiration date provided by this Act. Such cer-
tificates of authority and licenses, upon first renewal made under
this article, shall be replaced by certificates of authority or licenses
in form as provided by this article, and shall thereafter be subject
to continuation, suspension, revocation or termination as though
originally issued under this article; and that

(b)   Brokers' licenses renewed on May 1, 1964 or originally issued
between May 1, 1964 and November 1, 1964, shall expire on Novem-
ber 1, 1965. The fee for the extended brokers' licenses shall be 150
percent of the fee provided by this article. Brokers' bonds in the
amount of $5,000.00 shall be in such form as to remain in force from
the date of issuance of the license until November 1, 1965.

Sec. 3. And be it further enacted, That every form of insurance
document and every rate or other filing lawfully in use immediately
prior to the effective date of this Act may continue to be so used or
be effective until the Commissioner otherwise prescribes pursuant
to this Act.

Sec. 4. And be it further enacted, That the present Commis-
sioner is continued in office for the term he is now serving, and is
responsible for executing the duties of the office in accordance with
this Act. The Deputy Commissioner and other personnel of the
Department are continued with respect to their particular appoint-
ments until changed in accordance with this article or other appro-
priate laws; and nothing in this Act shall be construed so as to
require the discharge or reduction in grade of any person so em-
ployed at the effective date of the Act.

Sec. 5. And be it further enacted, That if, with respect to any
insurer lawfully authorized to engage in the insurance business in
Maryland immediately prior to the effective date of this Act, this
article requires a greater amount of capital, or surplus, or deposit
than required of such insurer immediately prior to such effective
date, such insurer shall have until December 31, 1966 within which
to comply with any such increased requirement.
NO GREATER
AMOUNT OF CAPITAL, OR SURPLUS, OR
DEPOSIT SHALL BE
REQUIRED OF ANY SUCH INSURER. SUCH INSURER SHALL
HAVE UNTIL DECEMBER 31, 1968, TO COMPLY WITH 50%
OF ANY SUCH INCREASED REQUIREMENT AND SHALL

 

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Session Laws, 1963
Volume 671, Page 1215   View pdf image (33K)
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