238                                        LAWS OF MARYLAND                                Ch. 167

Other Than Life Insurers"; "Agents and Brokers"; "Rates and Rating
Organizations"; "Maryland Automobile Insurance Fund," and
"Miscellaneous"; and to renumber and recodify Sections 244 and 245,
respectively, of Article 48A of the Code, same title, subtitle "Maryland
Automobile Insurance Fund"; to be Sections 242A and 242B, respectively, of
Article 48A of the Code, same Title, to be under the subtitle "Rates and Rating
Organizations," to follow immediately after Section 242 thereof; correcting
errors in the laws relating generally to insurance.

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That Sections 96(5), 104(10), 172(a), 242(b), 243G(a) and 490A of
Article 48A of the Annotated Code of Maryland (1972 Replacement Volume and
1972 Supplement), title "Insurance Code," subtitles, respectively, "Investments of
Life Insurers"; "Investments of Insurers Other Than Life Insurers"; "Agents and
Brokers"; "Rates and Rating Organizations"; "Maryland Automobile Insurance
Fund"; and "Miscellaneous"; be and they are hereby repealed and re-enacted, with
amendments, and that Sections 244 and 245, respectively, of Article 48A of the
Code, same title, subtitle "Maryland Automobile Insurance Fund," be and they
are hereby renumbered and recodified to be Sections 242A and 242B, respectively,
of Article 48A of the Code, same Title, to be under the subtitle "Rates and Rating
Organizations," to follow immediately after Section 242 thereof, all to read as
follows:

96.

(5) Interest-bearing bonds, notes [of] OR other interest-bearing obligations of
any corporation organized under the laws of the United States of America or of
Canada or province thereof, or under the laws of any state, District of Columbia,
territory or possession of the United States of America. Equipment trust
obligations or certificates or other secured instruments evidencing an interest in
transportation or other equipment wholly or in part within the United States of
America or Canada and a right to receive determined portions of rental, purchases
or other fixed obligatory payments for the use or purchase of such transportation
or other equipment.

104.

(10) Stock and debentures, or either, of [an] ANY housing authority organized
under the public housing law of this State, to the extent and upon such conditions
as may be authorized by the Commissioner, provided all of the stock of such
housing authority has been or is to be originally issued to one or more insurers.

172.

(a) To whom issued. The Commissioner may in his discretion issue temporary
licenses as agent or broker to an individual otherwise qualified therefor without
regard to educational, experience or examination requirements in the following
cases:

(1)    To the surviving spouse or next of kin or to the administrator or executor,
or the appointee of such administrator [of] OR executor, of a deceased agent or
broker.

(2)     To the spouse, next of kin, employee or legal guardian of an agent or
broker who is mentally or physically disabled.

(3)    To an employee of a firm, or officer or employee of a corporation, upon
the death or disability of an individual licensee.