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LAWS OF MARYLAND

Ch. 161

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

Article 31 - Debt - Public

EXCEPT FOR SECTION 22 OF THIS ARTICLE, [This] THIS article
does not apply to the State or to any of its units or
instrumentalities.

SECTION 2. AND BE IT FURTHER ENACTED, That it is the intent
of the General Assembly that this Act be interpreted
retroactively and applied to all affected transactions occurring
on or after October 1, 1985.

SECTION 3. AND BE IT FURTHER ENACTED, That this Act shall
take effect June 1, 1986.

Approved April 29, 1986.

CHAPTER 161

(Senate Bill 813)

AN ACT concerning

Maryland Insurance Guaranty Association
Property and Casualty Insurance Guaranty Corporation

FOR the purpose of clarifying the relationship of the State of
Maryland to the Maryland Insurance Guaranty Association;
changing the name of the Association; providing that the

Association is not an instrumentality of the State;

providing that the State neither insures nor guarantees
claims presented to the Association; prohibiting certain
misleading and deceptive practices altering the name of the
Maryland Insurance Guaranty Association to be the Property
and Casualty Insurance Guaranty Corporation; clarifying that
the powers, duties, and obligations of the Corporation are
more accurately reflected as those of a private, nonprofit,
nonstock corporation independent of the State; providing
that the obligations and liabilities of the Corporation are
not those of the State; providing that Corporation moneys
are not considered part of the general fund of the State;
prohibiting the State from budgeting or appropriating funds
for the Corporation; and generally relating to the
relationship of the Association to the State of Maryland
independent nature of the Corporation.