Ch, 6                                    LAWS. OF MARYLAND.

494A.

(b) (2) This section does not apply to the following:

(vii) An acquisition of an insurer whose
domiciliary commissioner:

1.  Affirmatively finds, that:

A.. The insurer is in failing condition;

B.  There is a lack of feasible
[alternative] ALTERNATIVES, to improving the insurer's failing
condition; and

C.  The public benefits of improving such
insurer's condition through the acquisition exceed the public
benefits that would arise from not lessening competition;, and

2.  Communicates the domiciliary
commissioner's, findings to the Commissioner of this State.

(3) For the purpose of paragraph (2)(v) of this
[subsection] SUBSECTION, "market" means direct written insurance
premium in this State for a line of business as contained in the
annual statement required to be filed by insurers licensed to do
business in this State.

DRAFTER'S NOTE:

Error: Incorrect word usage and punctuation omitted
in Article 48A, § 494A(b)(2)(vii) and (3).

Occurred: Ch. 199, Acts of 1986.

569.

(c) Upon approval of the application for the certificate of
authority, the Commissioner shall issue the certificate
authorizing the Society to issue policies of property and
casualty insurance as follows:

(1)  Insurance against liability of attorneys for
injury arising out of the rendering of or failure to render
professional services by the insured;

(2)  Insurance against the liability of any person for
whose acts or omissions an attorney is. responsible under the
provisions of paragraph (1) of this subjection, or with whom he
is associated, including partners, employees, employers,
associates, consultants, or a professional service corporation
whose stock is owned by an insured;

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