2888                                        LAWS OF MARYLAND                                    Ch. 554

AT PUBLIC OR PRIVATE SALE WITHOUT NOTICE TO THE DEPOSITOR OF THE
SECURITIES.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall
take effect July 1, 1984.

Approved May 29, 1984.

CHAPTER 555

(Senate Bill 672)

AN ACT concerning

Health Maintenance Organizations - Reserves
Stock or Surplus

FOR the purpose of requiring that health maintenance
organizations certified on or after the effective date of
this Act have a certain readily accessible positive net
reserve; value of stock or surplus; providing an exception
to this requirement; and providing, with certain exceptions,
that health maintenance organizations certified prior to the
effective date of this Act shall have lesser, but annually
increasing, readily accessible positive net reserves stock
or surplus until health maintenance organizations certified
prior to the effective date of this Act are required to have
the same reserves stock or surplus as newly certified health
maintenance organizations.

BY repealing and reenacting, without amendments,

Article - Health - General
Section 19-701(a), (c), and (e)
Annotated Code of Maryland
(1982 Volume and 1983 Supplement)

BY repealing and reenacting, with amendments,

Article - Health - General
Section 19-710(d)
Annotated Code of Maryland
(1982 Volume and 1983 Supplement)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the Laws of Maryland read as follows:

Article - Health - General