Ch. 530                                    LAWS OF MARYLAND

purchased insurance in an amount of not less than $1,000,000
against liability for injury to persons arising out of the use of
the amusement ride or attraction.

(2) A ski lift may not operate unless the owner or
lessee of such ride or attraction has purchased insurance in an
amount of not less than $500,000 against liability for injury to
persons arising out of the use of the ski lift.

(b) The insurance policy shall be procured from any insurer
or surety that is acceptable to the Insurance Commissioner of
Maryland.                                                                                               

(c) A certificate of insurance shall be furnished to the
Commissioner prior to the issuance of a certificate of
inspection.

(D) (1) AN AMUSEMENT RIDE OR ATTRACTION, OWNED AND OPERATED
BY A NONPROFIT COMMUNITY SERVICE CORPORATION INCORPORATED UNDER
MARYLAND LAW WHICH THAT IS AUTHORIZED TO COLLECT CHARGES OR
ASSESSMENTS BY A COVENANT RUNNING WITH THE LAND AND THAT HAS

GROSS ANNUAL REVENUES OF AT LEAST $15,000,000, COMPLIES WITH THIS

SECTION IF IT IS SELF-INSURED FOR AT LEAST $1,000,000 AGAINST
LIABILITY FOR INJURY ARISING OUT OF THE USE OF THE AMUSEMENT RIDE
OR ATTRACTION UNDER THE RULES AND REGULATIONS ADOPTED BY THE
STATE INSURANCE COMMISSIONER.

(2)  THE OWNER OR LESSEE OF AN AMUSEMENT RIDE OR
ATTRACTION THAT ELECTS TO SELF-INSURE UNDER THIS SUBSECTION
PERIODICALLY SHALL FILE WITH THE STATE INSURANCE COMMISSIONER, IN
WRITING, THE TERMS AND CONDITIONS OF THE SELF-INSURANCE.

(3)  THE TERMS AND CONDITIONS OF THIS SELF-INSURANCE:

(I)  ARE SUBJECT TO APPROVAL OF THE STATE
INSURANCE COMMISSIONER; AND

(II)  SHALL CONFORM WITH THE TERMS AND
CONDITIONS OF COMPREHENSIVE LIABILITY INSURANCE POLICIES
AVAILABLE IN THE PRIVATE MARKET.

(4) UNTIL RULES AND REGULATIONS BY THE STATE

INSURANCE COMMISSIONER ARE ADOPTED, THE OWNER OR LESSEE OF AN
AMUSEMENT RIDE OR ATTRACTION MAY SATISFY THIS SECTION OF, AS PART
OF ITS SELF-INSURANCE PROGRAM, IT MAINTAINS A LINE OF CREDIT OF
AT LEAST $1,000,000 WITH STATE OR FEDERALLY CHARTERED FINANCIAL
INSTITUTIONS FROM WHICH IT MAY DRAW TO PAY CLAIMS ARISING OUT OF
THE USE OF THE AMUSEMENT RIDE OR ATTRACTION. THE LINE OF CREDIT
SHALL BE CERTIFIED TO THE COMMISSIONER OF LABOR AND INDUSTRY AND
SHALL CONTAIN AN AGREEMENT THAT THE FINANCIAL INSTITUTION SHALL
NOTIFY THE COMMISSIONER OF LABOR AND INDUSTRY IF THE LINE OF

CREDIT IS REVOKED OR FALLS BELOW $1,000,000. THE OWNER OR LESSEE

UPON NOTIFICATION OR REVOCATION OF THE LINE OF CREDIT FALLING

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