2380

LAWS OF MARYLAND

Ch. 599

M.I.G.A. - Workmen's Compensation Insolvency Fund

FOR the purpose of transferring the Workmen's Compensation
Insolvency Fund from the Workmen's Compensation Article
to the Maryland Insurance Guaranty Association subtitle
of the Insurance Article; providing that this fund
shall be administered through the appropriate account
in the Maryland Insurance Guaranty Association; making
this Act an emergency measure; and clarifying language.

BY repealing

Article 101 - Workmen's Compensation

Section 85 through 89, inclusive, and the subtitle

"Liability for Awards Against Insolvent

Insurers"
Annotated Code of Maryland
(1979 Replacement Volume and 1980 Supplement)

BY repealing and reenacting, with amendments,

Article 48A - Insurance Code

Section 504(b), 506, and 508(a)(3)

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be repealed, amended, or enacted to read as follows: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 101 - Workmen's Compensation

[Liability for Awards Against Insolvent Insurers]

[85.

Every insurer issuing workmen's compensation insurance
in this State shall be liable to the extent and in the
manner hereafter set forth for the payment of unpaid awards
of workmen's compensation arising out of injuries sustained
from and after June 1, 1967, while the employer was insured
by an insurer and the insurer becomes insolvent. Upon the
determination by the commissioner, or other competent
authority of the state where the insurer is incorporated or
organized, that the insurer is insolvent, the Commission
shall thereupon and thereafter from time to time certify to
the State Insurance Department the unpaid awards of
workmen's compensation for such injuries outstanding against
employers insured by this insurer and as to which it is
liable. The Department shall thereupon make payment of the
unpaid awards so far as funds are available at the times and
in the amounts required by the awards, unless payment in a
lesser number of installments is authorized by the
Commission; and, if sufficient funds to make all of the
payments due and payable are not available in any one year,