WILLIAM DONALD SCHAEFER, Governor                     Ch. 11

proceeding under this subtitle, such debts and credits shall be
set off and the balance only shall be allowed or paid, except as
provided in subsection (b) [below] OF THIS SECTION.

(b) No offset shall be allowed in favor of any such person
where:

(1)  The obligation of the insurer to such person
would not at the date of the entry of any liquidation order or
otherwise, as provided in § 156 OF THIS SUBTITLE, entitle him to
share as a claimant in the assets of the insurer; or

(2)  The obligation of the insurer to such person was
purchased by or transferred to such person with a view of its
being used as an offset; or

(3)  The obligation of such person is to pay an
assessment levied against the members of a mutual insurer, or
against the subscribers of a reciprocal insurer, or is to pay a
balance upon the subscription to the capital stock of a stock
insurer.

DRAFTER'S NOTE: This corrects stylistic errors in an
internal reference and in a cross-reference in Article
48A, § 159.

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

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

161.

(b) After the entry of the order of insolvency, regardless
of any prior notice that may have been given to creditors, the
Commissioner shall notify all persons who may have claims against
[such] THE insurer to file [such] THOSE claims with [him] THE
COMMISSIONER, at a place and within the time specified in the
notice, or that such claims shall be forever barred. The time
specified in the notice shall be as fixed by the court for filing
of [claims and which shall be not less than six (6)] CLAIMS, BUT
MAY NOT BE LESS THAN 6 months after the entry of the order of
insolvency. The notice shall be given in such manner and for
such reasonable period of time as may be ordered by the court.

DRAFTER'S NOTE: This corrects antiquated language and
stylistic errors in Article 48A, § 161(b).

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