MARVIN MANDEL, Governor

1859

REQUIREMENTS OF THIS SUBTITLE AND EVERY PROVISION OF THIS
SUBTITLE IS COMPLIED WITH, THE COMMISSIONER SHALL
CERTIFY, RETAIN, AND RECORD THE ARTICLES OF INCORPORATION
AND FURNISH THE INCORPORATORS WITH A PRELIMINARY
CERTIFICATE AUTHORIZING THE SOCIETY TO SOLICIT MEMBERS AS
PROVIDED IN THIS SUBTITLE.

REVISOR'S NOTE: This section presently appears as
the last sentence of Art. 48A, §311.

The only changes are in style.

With respect to the requirement that the
provisions and requirements of "this subtitle"
be complied with, see also, §6—418(b), which
incorporates in this subtitle, inter alia, the
requirements of Subtitle 19 of Art. 48A of the
Code,

6-407. GENERAL REQUIREMENTS FOR COMPLETING ORGANIZATION.

(A)   INITIAL SOLICITATIONS.

(1)     AFTER THE SOCIETY RECEIVES ITS
PRELIMINARY CERTIFICATE FROM THE COMMISSIONER, IT MAY
SOLICIT MEMBERS FOR THE PURPOSES OF COMPLETING ITS
ORGANIZATION.

(2)    UNTIL THE SOCIETY COMPLIES WITH THE
REQUIREMENTS OF SUBSECTION (B) OF THIS SECTION, IT MAY
NOT:

(I)    INCUR ANY LIABILITY OTHER THAN FOR THE
RETURN OF AN ADVANCE PREMINUM;

(II)   ISSUE ANY CERTIFICATE; OR

(III)   PAY, ALLOW, OR OFFER OR PROMISE TO PAY
OR ALLOW ANY DEATH OR DISABILITY BENEFIT TO ANY PERSON.

(B)   REQUIREMENTS.
EACH SOCIETY SHALL:

(1)    SECURE BONA FIDE APPLICATIONS FOR DEATH
BENEFITS IN AN AGGREGATE AMOUNT OF AT LEAST $500,000 ON
AT LEAST 500 LIVES;

(2)    RECEIVE FROM EACH APPLICANT EVIDENCE OF
INSURABILITY SATISFACTORY TO THE SOCIETY;

(3)   HAVE ON FILE CERTIFICATES OF EXAMINATION
OR ACCEPTABLE DECLARATIONS OF INSURABILITY APPROVED BY
ITS CHIEF MEDICAL EXAMINER;