WILLIAM DONALD SCHAEFER, Governor Ch. 565

of any dispute as to what money or assets may qualify as matching
funds, the Board of Public Works shall determine the matter, and
the Board's decision is final. Hartley Hall Hall, Inc. has until
June 1, 1989, to present evidence satisfactory to the Board of
Public Works that the matching fund will be provided. If
satisfactory evidence is presented, the Board shall certify this
fact to the State Treasurer and the proceeds of the loan shall be
expended for the purposes provided in this Act. If this evidence
is not presented by June 1, 1989, the proceeds of the loan shall
be applied to the purposes authorized in § 8-129 of the State
Finance and Procurement Article.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall
take effect June 1, 1987.

Approved May 14, 1987.

CHAPTER 565

(House Bill 1347)

AN ACT concerning

Insurance - Funding Agreements

FOR the purpose of authorizing certain insurers to deliver or
issue for delivery certain funding agreements; defining
funding agreements; specifying certain persons to whom
funding agreements may be issued; specifying certain
purposes for funding agreements; providing that amounts may
not be guaranteed or credited under funding agreements
except for certain circumstances; providing that certain
amounts paid to insurers may be allocated to certain
accounts; authorizing the State Insurance Commissioner to
adopt certain regulations; requiring the Commissioner to
regulate certain funding agreements; considering funding
agreements as annuities for certain purposes; and generally
relating to insurance funding agreements.

BY adding to

Article 48A - Insurance Code
Section 416A

Annotated Code of Maryland
(1986 Replacement Volume)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the Laws of Maryland read as follows:

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