WILLIAM DONALD SCHAEFER, Governor Ch. 736

CHAPTER 736

(House Bill 1338)

AN ACT concerning

Motor Vehicle Administration - Self-Insurance

FOR the purpose of providing that the Administration may adopt
certain regulations concerning certain assessments against
certain self-insurers; providing for certain limits on
assessments; and generally relating to motor vehicle
self-insurance.

BY repealing and reenacting, with amendments,

Article - Transportation
Section 17-103
Annotated Code of Maryland
(1987 Replacement Volume)

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

Article - Transportation

17-103.

(a)  (1) Except as provided in paragraph (2) of this
subsection, the form of security required under this subtitle is
a vehicle liability insurance policy written by an insurer
authorized to write these policies in this State.

(2)  The Administration may accept another form of
security in place of a vehicle liability insurance policy if it
finds that the other form of security adequately provides the
benefits required by subsection (b) of this section.

(3)  THE ADMINISTRATION SHALL, BY REGULATION, ASSESS
EACH SELF-INSURER AN ANNUAL SUM WHICH MAY NOT EXCEED $750, AND
WHICH SHALL BE USED FOR ACTUARIAL STUDIES AND AUDITS TO DETERMINE
FINANCIAL SOLVENCY.

(b)  The security required under this subtitle shall provide
for at least:

(1) The payment of claims for bodily injury or death
arising from an accident of up to $20,000 for any one person and
up to $40,000 for any two or more persons, in addition to
interest and costs;

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