MARVIN MANDEL, Governor

1875

The only changes are in style.
[[((F)]] (D) "STOCK" INSURER.

"STOCK INSURER" MEANS AN INCORPORATED INSURER WITH
CAPITAL STOCK DIVIDED INTO SHARES AND OWNED BY ITS
STOCKHOLDERS.

REVISOR'S NOTE: This subsection presently appears as
Art. 48A, §247.

The only changes are in style.

6-502. APPLICABILITY OF INSURANCE CODE DEFINITIONS.

A WORD USED IN THIS SUBTITLE, UNLESS THE CONTEXT
CLEARLY REQUIRES OTHERWISE, HAS THE SAME MEANING AS IS
INDICATED BY [[ANY]] A DEFINITION OF THE WORD IN ARTICLE
48A OF THE CODE.

REVISOR'S NOTE: This section is new language added
to avoid unnecessary repetition of the
several, more general definitions contained in
Art. 48A. See, e.g.. Art. 48A, §§2
("insurance"), 3 ("insurer"), 6 ("domestic,"
"foreign," and "alien" insurer), and 8
("insurance business"), and 64 ("life
insurer").

6-50 3. FORMATION OF DOMESTIC INSURERS.

A DOMESTIC INSURER MAY BE FORMED FOR INSURANCE
PURPOSES UNDER THE PROVISIONS OF TITLE 2 OF THIS ARTICLE
[[FOR INSURANCE PURPOSES]]. IT MAY BE FORMED EITHER AS A
MUTUAL INSURER OR A STOCK INSURER, AS [[DETERMINED BY]]
STATED IN ITS ARTICLES OF INCORPORATION .

REVISOR'S NOTE: This section presently appears as
Art. 48A, §249.

The only changes are in style.

6-504. CHARTER - FILING FOR EXAMINATION.

(A) CHARTER TO BE SUBMITTED TO THE COMMISSIONER.

THE ARTICLES OF INCORPORATION OF EACH DOMESTIC
INSURER AND ANY AMENDMENT TO ITS CHARTER SHALL BE
SUBMITTED TO THE COMMISSIONER FOR EXAMINATION AND
APPROVAL BEFORE IT MAY BE RECEIVED FOR RECORD BY THE
DEPARTMENT.

(B) ENDORSEMENT.