Ch. 566

LAWS OF MARYLAND

(III)  THE ACCOUNTING AND REPORTING OF FUNDS
CREDITED UNDER FUNDING AGREEMENTS;

(IV)  THE DISCLOSURE OF INFORMATION TO BE GIVEN
TO HOLDERS AND PROSPECTIVE HOLDERS OF FUNDING AGREEMENTS; AND

(V)  THE QUALIFICATION AND COMPENSATION OF
PERSONS SELLING FUNDING AGREEMENTS ON BEHALF OF INSURERS.

(2) WITH RESPECT TO SEPARATE ACCOUNTS AND RESULTING
ACCUMULATIONS, THE COMMISSIONER SHALL ADOPT REGULATIONS RELATING
TO THE TYPE AND AMOUNT OF INVESTMENTS WHICH MAY BE MADE UNDER A
FUNDING AGREEMENT.

(2) (3) NOTWITHSTANDING ANY OTHER PROVISION OF LAW,
THE COMMISSIONER SHALL HAVE SOLE AUTHORITY TO REGULATE:

(I)  THE ISSUANCE AND SALE OF FUNDING
AGREEMENTS; AND

(II)  THE PERSONS SELLING FUNDING AGREEMENTS ON
BEHALF OF INSURERS.

(F) SOLELY FOR THE PURPOSE OF APPLICATION OF ARTICLE 81 OF
THE CODE, THE FUNDING AGREEMENTS AUTHORIZED BY THIS SECTION ARE
DEEMED TO BE ANNUITY CONTRACTS.

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

Approved May 14, 1987.

CHAPTER 566

(House Bill 1359)

AN ACT concerning

Advertising - Plumbers

FOR the purpose of extending the prohibition against any person
advertising as a "master plumber" or "registered plumber"
unless that person meets certain requirements to apply to
the entire State of Maryland rather than only to Baltimore
City.

BY repealing and reenacting, with amendments,

Article 56 - Licenses

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