Ch. 6

LAWS OF MARYLAND

2.  Not eligible for hospital, medical or
surgical benefits under any group plan, other than the plan,
which is written on an expense incurred basis or which is with a
health maintenance organization; and

3.  Not entitled to benefits under Title
XVIII of the Social Security Act; or

(ii) Is a qualified beneficiary who would
otherwise be entitled, by reason of this article, to health
coverage under a group contract but for the:

1.  Nonexistence of a group contract; or

2.  Occurrence of the termination date.

DRAFTER'S NOTE:

Error: Extraneous punctuation in Article 48A, §
610(d).

Occurred: Ch. 747, Acts of 1986.

617.

(k) "Risk retention group" means any corporation or other
limited liability association formed under the laws of any state,
Bermuda, or the Cayman Islands:

(3) Which:

(i) Is chartered and licensed as a liability
insurance company, and authorized to engage in the business of
insurance under the laws of any state; or

(ii) 1. Before January 1, 1985, was chartered
or licensed and authorized to engage in the business of insurance
under the laws of Bermuda or the Cayman Islands and before that
date, had certified to the insurance commissioner of at least 1
state that it satisfied the capitalization requirements of such
state; AND

2. [Any such group shall be considered a
risk retention group only if it has] HAS been engaged in business
continuously since such date and only for the purpose of
continuing to provide insurance to cover product liability or
completed operations liability, as such terms were defined in the
Product Liability Risk Retention Act of 1981 prior to the
enactment of the Risk Retention [Act] AMENDMENTS of 1986;

DRAFTER'S NOTE:

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