LAWS OF MARYLAND

SECTION 3. AND BE IT FURTHER ENACTED, That no health
maintenance organization operating under a certificate of
authority issued by the Insurance Commissioner prior to the
effective date of this Act shall be required to maintain,
beginning July 1, 1989 a surplus in excess of a value of
$1,500,000; beginning July 1, 1990 a surplus in excess of a value
of $2,000,000; and beginning July 1, 1991 a surplus in excess of
a value of $3,000,000.

SECTION 3 SECTION 4. AND BE IT FURTHER ENACTED, That this
Act shall take effect July 1, 1989.

Approved May 19, 1989.

CHAPTER 365

(House Bill 60)

AN ACT concerning

Insurance - Commercial Casualty Underwriting Association

FOR the purpose of extending the termination date of a certain
Act establishing a Commercial Casualty Underwriting
Association.

BY repealing and reenacting, without amendments,

Article 48A - Insurance Code

Section 598 through 607 , inclusive

Annotated Code of Maryland

(1986 Replacement Volume and 1988 Supplement)

BY repealing and reenacting, with amendments,

Chapter 663 of the Acts of the General Assembly of 1986
Section 2

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

Article 48A - Insurance Code

598.

This subtitle shall be known as the "Commercial Casualty
Underwriting Association Act".

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Ch. 365