2746

LAWS OF MARYLAND

Ch. 734

(v) Insurance of wet marine and transportation
risks.

(vi) Bid bonds issued in connection with any
public or private contracts.

(vii) Policies or endorsements issued through
agents compensated only by salary or issued by insurers not
using agents in the general solicitation of business; or to
policies or endorsements issued by mutual or any other
insurers not customarily using agents compensated by
commission and on which no commission, as such, is payable
to any agent; or to policies or endorsements issued by an
insurer or group of insurers under common management or
control which are represented exclusively by agents who
represent only such insurer or group of insurers or to
reciprocal insurers.

(viii) Insurance written through the Maryland
automobile insurance plan or the Maryland property insurance
availability program.

[(5) Violation of this section shall not invalidate
any contract otherwise valid as between the insurer and the
insured.]

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

Approved May 19, 1981.

CHAPTER 735

(Senate Bill 717)

AN ACT concerning

Local Government Investment Pool

FOR the purpose of authorizing the State Treasurer to
establish a local government investment pool;
authorizing the Treasurer to promulgate certain rules
and regulations to administer the pool; providing for
the investment of certain funds from local governments;
specifying certain powers of the Treasurer relative to
the investment of certain sums; authorizing the State
Treasurer to enter into a contractual agreement with a
fiscal agent for the performance of certain services;
providing that funds placed in the local government
investment fund may not be considered to be treasury
funds; making stylistic changes; and relating generally
to a local government investment pool in this State.