LAWS OF MARYLAND
DRAFTER'S NOTE: This corrects an outdated cross-reference
in Article 41, § 571(a).
Article 76A, § 10 became § 10-507 of the State
Government Article in Ch. 284 of the Acts of the
General Assembly of 1984.
The outdated cross-reference was noted by the Michie
Article 48A - Insurance Code
In any determination of the financial condition of an
insurer, there shall be allowed as admitted assets only such
assets as are owned by the insurer and which consist of:
(la) Shares in savings and loan associations or
building and loan associations to the extent that such investment
or account is insured by an instrumentality of the United States
government or of the Canadian government, or by the [Maryland
Savings-Share Insurance Corporation] STATE OF MARYLAND DEPOSIT
INSURANCE FUND CORPORATION.
DRAFTER'S NOTE: This amends Article 48A, § 75(la) to
replace an obsolete reference to the Maryland
Savings-Share Insurance Corporation (MSSIC) with a
reference to its successor, the State of Maryland
Deposit Insurance Fund Corporation (MDIF).
Ch. 6 of the Acts of the First Special Session of the
General Assembly of 1985 eliminated the MSSIC and
replaced it with the MDIF.
The obsolete reference was noted by the professional
staff of the Legislative Division of the Department of
(d) (1) The Commissioner may issue an insurance adviser's
license to any person, who is (A) a resident of this State, or
who is a nonresident licensed as an insurance adviser in the
state of his residence, or (B) who is a member, in good standing,
of either the Society of Actuaries, or of the Casualty Actuarial
Society, or of the Conference of Actuaries in Public Practice, or
(C) who has been conferred the Chartered Property Casualty
Underwriter (C.P.C.U.) designation by The American Institute for
Property and Liability Underwriters, Inc., and who is a member,
in good standing, of The Society of Chartered Property and
Casualty Underwriters, OR (D) who has been conferred the
Chartered Life Underwriter (C.L.U.) designation by The American
College of Life Underwriters and who is a member, OR in good
standing, of The American Society of Chartered Life Underwriters,