HARRY HUGHES, Governor                                         2891

follows: effective July 1, 1984 in an amount that is the greater
of $100,000 or 1% of the earned subscription charges for the
preceding 12 months; effective July 1, 1985 in an amount that is
equal to the greater of $100,000 or 3% of the earned subscription
charges for the preceding 12 months. No Health Maintenance
Organization shall be required to maintain stock or surplus in
excess of a value of $1,000,000. The Commissioner may waive the
stock or surplus requirements contained in this section if the
Commissioner is satisfied the health maintenance organization
meets one of the criteria under Section 19-710(d)(3) of this Act.

SECTION 4. AND BE IT FURTHER ENACTED, That this Act shall
take effect July 1, 1984.

Approved May 29, 1984.

CHAPTER 556

(Senate Bill 700)

AN ACT concerning

Alcoholic Beverages - Transfer of License

FOR the purpose of providing that a board of license
commissioners of any county or Baltimore City may not permit
the transfer of an alcoholic beverages license until the
transferor has complied with the Bulk Transfers Act, and has
certified such compliance by affidavit to the board.

BY repealing and reenacting, with amendments,

Article 2B - Alcoholic Beverages

Section 74(a)

Annotated Code of Maryland

(1981 Replacement Volume and 1983 Supplement)

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

Article 2B - Alcoholic Beverages

74.

(a) (1) Any holder of a license under the provisions of
this article, including a receiver or trustee for the benefit of
creditors, may be permitted to transfer his place of business to
some other location or sell or assign the license and transfer
his stock in trade to another person, but only if application for
the transfer or sale has been made; all retail sales, amusement,