340                             LAWS OF MARYLAND                      CH. 289]

land (1964 Replacement Volume), title "Insurance Code," subtitle
"Rehabilitation and Liquidation," be and it is hereby repealed and
re-enacted, with amendments, to read as follows:

132.

(2) "Insurer" means any person, firm, corporation, association
or aggregation of persons doing an insurance business and subject
to the insurance supervisory authority of, or to liquidation, rehabil-
itation, reorganization or conservation by the Commissioner or the
equivalent insurance supervisory official of another state. An insurer
shall also include a corporation operating a non-profit health service
plan under subtitle 20 of this Code.

Sec. 2. And be it further enacted, That this Act shall take effect
July 1, 1968.

Approved April 10, 1968.

CHAPTER 289
(House Bill 728)

AN ACT to repeal and re-enact, with amendments, Section 58 of
Article 48A of the Annotated Code of Maryland (1964 Replace-
ment Volume and 1967 Supplement), title "Insurance Code," sub-
title "Insurers: Authorization and General Requirements," to pro-
vide penalties for late filing of the insurer's annual statement.

Section 1. Be it enacted by the General Assembly of Maryland,
That Section 58 of Article 48A of the Annotated Code of Maryland
(1964 Replacement Volume and 1967 Supplement), title "Insurance
Code," subtitle "Insurers: Authorization and General Require-
ments," be and it is hereby repealed and re-enacted, with amend-
ments, to read as follows:

58.

(1) Each authorized insurer shall annually on or before March
first unless the time is extended by the Commissioner for good cause
shown, file with the Commissioner a true statement of its financial
condition, transactions, and affairs as of the December thirty-first
preceding; said statement to be in such form and content as is
approved or adopted for current use by the National Association of
Insurance Commissioners or its successor organization, for use as
to the type of insurer and kinds of insurance to be reported upon,
and as supplemented for additional information required by the
Commissioner. The statement of an alien insurer shall relate only
to its transactions and affairs in the United States unless the Com-
missioner requires otherwise. Any authorized insurer failing to file
such statement by March 10 without having obtained an extension
shall forfeit one hundred dollars ($100.) for each day up to and
including March 10. Thereafter, failure to file such statement shall
result in an additional forfeiture of fifty dollars ($50.) per day
until such time as the statement is received by the Insurance Com-
missioner.