1868

LAWS OF MARYLAND

[Ch. 311

ANYONE AUTHORIZED BY THE SOCIETY TO MAIL A NOTICE OR
DOCUMENT, WHICH AFFIDAVIT STATES THAT THE TEXT OF THE
CONTRACT WAS PROPERLY ADDRESSED AND MAILED, IS PRIMA
FACIE EVIDENCE THAT THE TEXT WAS FURNISHED TO THE
ADDRESSEE.

(D)   APPROVAL OF CONTRACT.

THE COMMISSIONER SHALL APPROVE THE CONTRACT AND
ISSUE HIS CERTIFICATE OF APPROVAL IF HE FINDS THAT:

(1)   THE CONTRACT CONFORMS WITH THE PROVISIONS
OF THIS SECTION;

(2)   THE FINANCIAL STATEMENTS ARE CORRECT; AND

(3)   THE CONSOLIDATION OR MERGER IS EQUITABLE
TO THE MEMBERS OF EACH SOCIETY PARTY TO THE CONTRACT.

(E)   EFFECT OF APPROVAL.

(1)    UNLESS ANY PARTY TO THE CONTRACT IS
INCORPORATED UNDER THE LAWS OF ANOTHER STATE, THE
CONTRACT IS EFFECTIVE ON APPROVAL.

(2)    IF A SOCIETY PARTY TO THE CONTRACT IS
INCORPORATED UNDER THE LAWS OF ANOTHER STATE, THE
CONSOLIDATION OR MERGER IS NOT EFFECTIVE:

(I)    UNTIL IT IS APPROVED UNDER THE LAWS OF
THE OTHER STATE AND A CERTIFICATE OF THE APPROVAL IS
FILED WITH THE COMMISSIONER; OR

(II)    IF THE LAWS OF THE OTHER STATE DO NOT
PROVIDE FOR APPROVAL, UNTIL IT IS APPROVED BY THE
INSURANCE SUPERVISORY OFFICIAL OF THAT STATE AND A
CERTIFICATE OF THE APPROVAL IS FILED WITH THE
COMMISSIONER.

REVISOR'S NOTE: This section presently appears as
Art. 48A, §348.

In subsection (b)(2) and (3) of this section,
the phrase "verified under oath" is
substituted for "sworn statement" and "duly
verified by their respective oaths,"
respectively, to conform to the general
provisions of Title 1.

In subsection (d) (3) of this section, the word
"just" is deleted as unnecessary in light of
the standard "equitable."

In subsection (e) (1) of this section, the word