Ch. 11                                    LAWS OF MARYLAND

[hereof] OF THIS SECTION; of not less than the following
additional amounts:

Between December 31, 1966 and December 30, 1968 ....   $ 75,000.00

Between December 31, 1968 and December 30, 1970 ....     150,000.00

Between December 31, 1970 and December 30, 1972 .....     200,000.00

Between December 31, 1972 and December 30, 1973 .....     250,000.00

On and after December 31, 1973 ...................      300,000.00

Provided, however, in no case shall the additional amount
required by this subsection (4) OF THIS SECTION together with the
amount of surplus required under subsection (3) OF THIS SECTION
exceed the amount of surplus required of an insurer licensed on
or after July 1,1966; to transact the same kinds of insurance
business:

DRAFTER'S NOTE: This corrects stylistic errors in
cross-references and in internal references in Article
48A, § 49.

The stylistic errors occurred in Ch. 553 of the Acts
of 1963 and Ch. 225 of the Acts of 1966.

The stylistic errors were noted by the Michie Company.

77.

In any determination of the financial condition of an
insurer, capital stock and liabilities to be charged against its
assets shall include:

(1)  The amount of its capital stock outstanding, if
any;

(2)  The amount, estimated consistent with the
provisions of this article, necessary to pay all of its unpaid
losses and claims incurred on or prior to the date of statement,
whether reported or unreported, together with the expenses of
adjustment or settlement thereof;

(3)  With reference to life and disability insurance
and annuity contracts:

(i) The amount of reserves on life insurance
policies and annuity contracts in force, valued according to the
tables of mortality, rates of interest, and methods adopted
pursuant to this article which are applicable thereto;

(ii) Reserves for disability benefits; for both
active and disabled lives;

(iii) Reserves for accidental death benefits;
and

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