WILLIAM DONALD SCHAEFER, Governor Ch. 394

as a place of sectarian religious worship or instruction, or in
connection with any program or department of divinity for any
religious denomination. Upon the request of the Board of Public
Works, the Chipman Foundation shall submit evidence satisfactory
to the Board that none of the proceeds of this loan or any
matching funds have been or are being used for a purpose
prohibited by this Act.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall
take effect June 1, 1988.

Approved May 17, 1988.

CHAPTER 394

(House Bill 345)

AN ACT concerning

Health Maintenance Organizations - Stock or Surplus Requirements

FOR the purpose of increasing the amount of stock or surplus that
a health maintenance organization must maintain in order to
qualify for a certificate of authority from the Insurance
Commissioner; increasing the amount of stock or surplus a
health maintenance organization operating under a
certificate of authority issued prior to a certain date is
required to maintain; repealing a certain maximum stock or
surplus requirement; repealing a certain waiver; requiring a
health maintenance organization to deposit and maintain with
the State Treasurer a specified amount of cash or securities
for certain purposes in order to qualify for a certificate
of authority from the Insurance Commissioner; requiring a
health maintenance organization operating under a
certificate of authority issued prior to a certain date to
deposit and maintain with the State Treasurer, beginning on
a specified dates date, certain amounts of cash or
securities for certain purposes; providing for the
application of this Act; and generally relating to stock or
surplus and deposit requirements of health maintenance
organizations.

BY repealing and reenacting, without amendments,

Article - Health - General
Section 19-701(a), (c), and (e)
Annotated Code of Maryland
(1987 Replacement Volume)

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