WILLIAM DONALD SCHAEFER, Governor Ch. 394

obligations are guaranteed as to principal and interest by the
United States of America.

(2)  Bonds, or stocks or other evidences of
indebtedness which are direct obligations of the State of
Maryland or of any county, district or municipality thereof.

(3)  Bonds or other evidences of indebtedness which
are direct obligations of any state of the United States.

(4)  Mortgage loans or deeds of trust as specified in
§ 104 (6) (i) and (ii) of this subtitle, on property located in
this State.

(5)  Ground rents as specified in § 104 (7) of this
subtitle.

108.

(a)  The State Treasurer of Maryland shall accept and hold
in trust, when made through the Commissioner, deposits of
securities or funds by insurers as follows:

(1)  Deposits required for a certificate of authority
to engage in the insurance business in Maryland.

(2)  DEPOSITS REQUIRED FOR A CERTIFICATE OF AUTHORITY
TO OPERATE AS A HEALTH MAINTENANCE ORGANIZATION IN ACCORDANCE
WITH THE PROVISIONS OF § 19-710(D)(3) OF THE HEALTH - GENERAL
ARTICLE.

[(2)] (3) Deposits of domestic, foreign, or alien
insurers when made pursuant to the laws of other states,
provinces, and countries as prerequisite for authority to engage
in the insurance business in such state, province, or country.

[(3)] (4) Deposits in such additional amounts as are
permitted to be made by § 113 of this article.

(b)  Deposits of securities shall be registered both as to
principal and interest in the name of the State Treasurer of
Maryland as such trustee.

110.

(1)  All such deposits required for authority to engage in
the insurance business in Maryland shall consist of cash or any
combination of the government obligations described in § 95(1) or
§ 102(1), § 102(2), or § 102(3) of this subtitle as may be
approved by the State Treasurer, in his discretion.

(2)  All such deposits required pursuant to the laws of
another state, province, or country, or pursuant to the

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