620                             LAWS OF MARYLAND                     [CH. 178

CHAPTER 178
(Senate Bill 199)

AN ACT to repeal and re-enact, with amendments, Section 482A (a),
(b), (c) and (f) of Article 48A of the Annotated Code of Mary-
land (1968 Replacement Volume and 1968 Supplement), title
"Insurance Code," subtitle "Casualty Insurance," to confirm that
physical damage claims are recoverable under Section 482A, and
to provide that the term "net direct written premiums" shall
include premiums written on policies insuring against physical
damage loss, and changing the name of the fund to the Motor
Vehicle Security Fund, TO DEFINE THE TERM "PHYSICAL
DAMAGE" and making certain technical changes therein.

Section 1. Be it enacted by the General Assembly of Maryland,
That Section 482A (a), (b), (c) and (f) of Article 48A of the
Annotated Code of Maryland (1968 Replacement Volume and 1968
Supplement), title "Insurance Code," subtitle "Casualty Insurance,"
be and it is hereby repealed and re-enacted, with amendments, to
read as follows:

482A. Motor Vehicle [Liability] Security Fund.

(a) Definitions.— (1) As used in this section, unless the context
or subject matter otherwise requires:

(2)   "Fund" means the Motor Vehicle [Liability] Security Fund
created by this section.

(3)   "Fund year" means the calendar year.

(4)   "Insurer" means any insurer other than an insolvent insurer,
authorized to transact the kinds of business specified in Sections 68
and 69 of this Article, in connection with the ownership, operation
or maintenance of motor vehicles.

(5)   "Policy" means a policy issued by an insurer authorized to
do business in this State, including a policy or surety bond filed
under the financial responsibility laws of Article 66½ [of this Code,]
insuring against physical damage or legal liability arising out of the
ownership, operation or maintenance of motor vehicles.

(6)   "Net direct written premiums" means direct gross premiums
written on policies, insuring against physical damage or legal liabil-
ity arising out of the ownership, operation or maintenance of motor
vehicles which are principally garaged in this State, less return
premiums thereon and dividends paid to policyholders on such direct
business. For the purposes of this section premiums written by any
authorized insurer on policies issued to self-insurers, whether or
not designated as reinsurance contracts, shall be deemed "net direct
written premiums."

(7)   "Motor vehicle accident" means either an accident occurring
within or without this State arising out of the ownership, operation
or maintenance of a motor vehicle which is principally garaged in
this State or an accident occurring within this State arising out of
the ownership, operation or maintenance of a motor vehicle which
is not principally garaged in this State.