HARRY HUGHES, Governor

2743

[(h) To any insurance company or underwriter issuing
contracts of insurance to industrial insureds, nor to
industrial insureds, nor to contracts of insurance issued to
industrial insureds. For the purposes of this section an
"industrial assured INSURED" is defined to be: (1) an
insured who procures the insurance of any risk or risks by
use of the services of a full-time employee acting as an
insurance manager or buyer or the services of a regularly
and continuously retained qualified insurance consultant, or
(2) an insured whose aggregate annual premiums for insurance
on all risks total at least $100,000 or (3) an insured
having at least twenty-five full-time employees.]
NOTWITHSTANDING THE PROVISIONS OF THIS SUBSECTION,
INDUSTRIAL INSUREDS SHALL BE SUBJECT TO THE PREMIUM TAX
PAYMENT REQUIREMENT OF § 208 OF THIS SUBTITLE, AND TO THE
REPORTING REQUIREMENTS OF § 209 OF THIS SUBTITLE.

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

Approved May 19, 1981.

CHAPTER 734

(Senate Bill 690)

AN ACT concerning

Insurance - Resident Agents and Nonresident Agents

FOR the purpose of prohibiting, with certain exceptions,
requirements that a resident insurance agent of this
State must sign or countersign certain insurance
policies; providing that an insurance policy may not be
deemed invalid because of the absence of certain
signatures; providing for equal pro rata portions of
certain commissions; providing that certain laws are
not altered or modified; relating to the validity or
invalidity of certain contracts; and generally relating
to certain requirements pertaining to resident
insurance agents.

BY repealing and reenacting, with amendments,

Article 48A - Insurance Code

Section 59

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be repealed, amended, or enacted to read as follows: