2318                                          LAWS OF MARYLAND                      [Ch. 636

(i) (5) "Trustee" shall mean any national banking
association; or any bank as defined in [§1 of Article 37A
of this] §15-201 OF THE ESTATES ARTICLE oF THE Code[, as
amended from tine to time]; or savings bank and any
building, savings and loan association insured by an
agency of the federal government or, if located in the
State [of Maryland], insured by the Maryland
Savings—Share Insurance Corporation; or other
organization or individuals who shall provide a fidelity
bond from any recognized bonding institution, said bond
to be in an amount equal to the trust fund and inuring to
the benefit of the trust account of the cemetery and/or
its individual lot owners.

SECTION 5. AND BE IT FURTHER ENACTED, That Section
382 of Article 48A — Insurance Code, of the Annotated
Code of Maryland (1972 Replacement Volume and 1973
Supplement) be and it is hereby repealed and re—enacted,
with amendments, to read as follows:

Article 48A — Insurance Code
382.

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 $1,000.00 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
decadent, including such insurance proceeds, is in a
total amount not exceeding $1,000.00 or such person shall
furnish a certificate of administration as provided by
the Small Estate Law, [§§ 162 and 163 of Article 93] §§
5-601 THROUGH 5-6 07 OF THE ESTATES ARTICLE OF THE CODE.
If any such person is under eighteen years of age, 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.

SECTION 6. AND BE IT FURTHER ENACTED, That Sections
153 and 155 of Article 31 — Revenue and Taxes, of the