WILLIAM DONALD SCHAEFER, Governor                      Ch. 11

classes specified in paragraphs (1) and (2) [following] OF THIS
SECTION:

(1)  Bonds or other evidences of indebtedness of the
United States of America or of any of its agencies when such
obligations are guaranteed as to principal and interest by the
United States of America.

(2)  Bonds, or stocks or other evidences of
indebtedness which are direct obligations of the State of
Maryland or of any county, district or municipality thereof.

(3)  Bonds or other evidences of indebtedness which
are direct obligations of any state of the United States.

(4)  Mortgage loans or deeds of trust as specified in
§ 104 (6) (i) and (ii) OF THIS SUBTITLE, on property located in
this State.

(5)  Ground rents as specified in § 104 (7) OF THIS
SUBTITLE.

DRAFTER'S NOTE: This corrects stylistic errors in
cross-references and in an internal reference in
Article 48A, § 102.

The stylistic errors in the cross-references and in
the internal reference occurred in Ch. 553 of the Acts
of 1963.

The stylistic error in the internal reference was
noted by the Michie Company. The stylistic errors in
the cross-references were noted by the professional
staff of the Legislative Division of the Department of
Legislative Reference.

104.

The reserve investments of an insurer shall consist of the
following classes of assets subject to the limit, if any, set
forth with regard to each type or class of asset:

(2) Obligations, other than those eligible for
investment under subsection (6) OF THIS SECTION, issued, assumed
or guaranteed by any solvent institution created or existing
under the laws of the United States or of any state, district or
territory thereof, which are not in default as to principal or
interest, and which are qualified under any of the following
paragraphs:

(i) Obligations which are secured by adequate.
collateral security and bear fixed interest and if during each of
any three, including either of the last two, of the five fiscal

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