1032                                          LAWS OF MARYLAND                                      Ch. 281

(2) THE BOARD OF PUBLIC WORKS APPROVES THE TAX
CREDIT.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall
be applicable to all tax years beginning after December 31, 1983.

SECTION 2 3. AND BE IT FURTHER ENACTED, That this Act
shall take effect July 1, 1986. It shall remain effective for a
period of 5 years and, at the end of June 30, 1991, and with no
further action required by the General Assembly, this Act shall
be abrogated and of no further force and effect.

Approved April 29, 1986.

CHAPTER 281

(Senate Bill 753)

AN ACT concerning

Insurance - Legal Mutual Liability Insurance Society

of Maryland

FOR the purpose of specifying that the provision of property and
casualty insurance and surety insurance related to certain
activity is a purpose of the Legal Mutual Liability
Insurance Society of Maryland; providing that the Society is
not an instrumentality of the State and that all the debts
of the Society are of the Society only and not of the State;
identifying certain conditions under which certain
provisions of law become effective; requiring that a certain
hearing be held and an order passed under certain
circumstances; specifying the number of members and manner
of selection of the board of directors of the Society;
authorizing the Society to issue certain insurance policies;
authorizing the levy of a certain tax; specifying that a
certain tax does not apply under certain circumstances;
providing certain penalties for failure to pay a certain
tax; requiring the General Assembly of Maryland to dedicate
and appropriate certain tax proceeds; requiring the
Treasurer and Comptroller to distribute certain tax
proceeds; specifying that the board of directors of the
Society shall determine the amount of a certain membership
fee; providing a certain credit to an attorney who has paid
a certain tax; authorizing the Society to issue certain
nonassessable policies after meeting certain requirements of
law; providing for underwriting standards; making this Act
an emergency measure; and generally relating to the
structure, powers, and activities of the Legal Mutual
Liability Insurance Society of Maryland.