2166

LAWS OF MARYLAND

Ch. 525

(2) SURPLUS OF NOT LESS THAN $10,000.

(B)  ANY MOTOR CLUB FORMED UNDER THE LAWS OF THIS STATE
WITHOUT PAID-IN CAPITAL STOCK SHALL POSSESS AND MAINTAIN
UNENCUMBERED ASSETS OVER AND ABOVE ALL REQUIRED RESERVES AND
OTHER LIABILITIES IN AN AMOUNT EQUAL TO THAT REQUIRED UNDER
SUBSECTION (A) OF THIS SECTION.

(C)  FOR AUTHORITY TO CONTINUE IN THE BUSINESS OF A
MOTOR CLUB, EVERY MOTOR CLUB COMMENCING BUSINESS IN THIS
STATE PRIOR TO JULY 1, 1981 SHALL POSSESS AND MAINTAIN THE
MINIMUM REQUIREMENTS UNDER SUBSECTIONS (A) AND (B) OF THIS
SECTION BY JANUARY 1, 1983.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act
shall take effect July 1, 1981.

Approved May 19, 1981.

CHAPTER 526

(Senate Bill 269)

AN ACT concerning

Maryland Insurance Division - Expense of Examination

FOR the purpose of revising the procedure to bill insurers
for the cost of conducting financial examinations of
insurers by the Insurance Division; providing that
certain money for travel and living expenses expenses
and living expense allowance received by the Insurance
Division shall be held in a special fund by the
Comptroller for a sole purpose; and generally relating
to the expense of Insurance Division examinations of
insurance companies.

BY repealing and reenacting, with amendments,

Article 48A - Insurance Code

Section 33A

Annotated Code of Maryland

(1979 Replacement Volume and 1980 Supplement)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That section(s) of the Annotated Code of Maryland
be repealed, amended, or enacted to read as follows:

Article 48A - Insurance Code

33A.