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2886 LAWS OF MARYLAND Ch. 712
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vote supported by three-fifths of all the members elected
to each of the two Houses of the General Assembly, the
same shall take effect from the date of its passage.
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Approved May 26, 1977.
CHAPTER 713
(Senate Bill 479)
AN ACT concerning
Legal Malpractice — Mutual Liability
Insurance Company
FOR the purpose of creating a mutual liability insurance
company, contingent upon certain findings by the
Maryland Insurance Commissioner, in order to provide
payment to injured parties for claims resulting from
the rendering of or failure to render professional
services by attorneys; defining terms; providing for
a board of directors; providing for a certain
membership fee, in an amount to be established by
the Board, approved by the Commissioner, and payable
by an attorney upon application for coverage;
providing that the company is a member of the
Professional Liability Fund and the Maryland
Insurance Guaranty Association; providing for a
reserve fund; and generally relating to the creation
of a mutual liability insurance company with certain
powers, duties and liabilities which shall provide a
mechanism for the payment of indemnities in certain
cases and which shall provide a mechanism for
attorneys to obtain professional liability
insurance.
BY adding to
Article 48A — Insurance Code
Section 566 through 574, inclusive, to be under
the new subtitle "40. Legal Mutual Liability
Insurance Society of Maryland"
Annotated Code of Maryland
(1972 Replacement Volume and 1976 Supplement)
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SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That new Sections 566 through 574, inclusive,
to be under the new subtitle "40. Legal Mutual Liability
Insurance Society of Maryland" be and they are hereby
added to Article 48A — Insurance Code, of the Annotated
Code of Maryland (1972 Replacement Volume and 1976
Supplement) to read as follows:
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