Ch. 11

LAWS OF MARYLAND

1.  Affirmatively finds that:

A. The insurer is. in failing condition;

B.. There is a lack of feasible
alternative to improving the insurer's failing condition; and

C. The public benefits of improving such
insurer's condition through the acquisition exceed the public
benefits that would arise from not lessening competition; and

2.  Communicates the domiciliary
commissioner's findings to the Commissioner of this State.

(3) For the purpose, of [subparagraph (2)(v)]
PARAGRAPH (2)(V) of this subsection "market" means direct written
insurance premium in this State for a line of business as
contained in the annual statement required to be filed by
insurers licensed to do business in this State.

DRAFTER'S NOTE: This corrects stylistic errors in internal
references and cross-references and corrects
antiquated language in Article 48A, § 494A(b)(2) and
(3).

The stylistic errors occurred in, and the antiquated
language was contained in, Ch. 199 of the Acts of
1986.

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

505.

As used in this subtitle:

(b)   ["Association"] "CORPORATION" means the Property and
Casualty Insurance Guaranty Corporation created under § 506 of
this subtitle.

(c)  (1) "Covered claims" means obligations, including
unearned premiums, of an insolvent insurer which:

(i) 1. Arise out of the insurance policy
contracts of the insolvent insurer issued to residents of this
State or which are payable to residents of this State on behalf
of insureds of the insolvent insurer; or

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