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3603 LAWS OF MARYLAND Ch. 955
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266.
(a) Any director, officer or member of any stock or
mutual insurer, or any other person, may loan or advance
to such insurer any sum or sums of money necessary [for
the purposes of its business, or] to enable it to comply
with any surplus requirements, or any other requirements
of the law, and such moneys, and such interest thereon as
may have been agreed upon, not exceeding six percent per
annum, shall be payable only out of the surplus remaining
after providing for all reserves and other liabilities,
and such advance shall not otherwise be a liability or
claim against the insurer or any of its assets. No
commission or promotion expenses shall be paid in
connection with the advance of any such money to the
insurer, and the amount of such advance shall be reported
in each annual statement.
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SECTION 2. AND BE IT FURTHER ENACTED, That this Act
shall take effect July 1, 1977.
Approved May 26, 1977.
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CHAPTER 956
(House Bill 1193)
AN ACT concerning
Revenue and Taxes — Real Property Exemption
FOR the purpose of providing for the exclusion from the
valuation of real property certain improvements,
changes or additions to certain buildings;
establishing certain requirements as conditions for
the exclusion; providing for the termination of the
exclusion; directing the State Department of
Assessment and Taxation to promulgate certain
regulations; and requiring certain information to be
included on the tax bill for each taxable year for
dwellings subject to the provisions of this
exclusion.
BY adding to
Article 81 — Revenue and Taxes
Section 19(a)(10)
Annotated Code of Maryland
(1975 Replacement Volume and 1976 Supplement)
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SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That new Section 19(a)(10) be and it is hereby
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