WILLIAM DONALD SCHAEFER, Governor Ch. 564
BY repealing and reenacting, with amendments,

Article 48A - Insurance Code

Section 158A and 162A(a); and 520, 521, and 523 through 537,
inclusive, to be under the amended subtitle
"Subtitle 34. Life and Health Insurance Guaranty
Corporation Act"

Annotated Code of Maryland

(1986 Replacement Volume and 1988 Supplement)

BY repealing and reenacting, without amendments,

Article 48A - Insurance Code

Section 522

Annotated Code of Maryland

(1986 Replacement Volume and 1988 Supplement)

BY repealing and reenacting, with amendments,

Chapter 557 of the Acts of the General Assembly of 1983
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

158A.

Claims by policyholders, beneficiaries, and insureds arising
from and within the coverage of and not in excess of the
applicable limits of insurance policies and insurance contracts
issued by the company, and liability claims against insureds
which claims are within the coverage of and not in excess of the
applicable limits of insurance policies and insurance contracts
issued by the company, and claims of the Property and Casualty
Insurance Guaranty Corporation and the [Maryland] Life and Health
Insurance Guaranty [Association] CORPORATION and any similar
organization in another state shall have priority in a
liquidation proceeding over all other claims except those for
expenses of administration, wages covered by § 158 and taxes.

162A.

(a) Within 120 days of a final determination of insolvency
of a company by a court of competent jurisdiction of this State,
the Commissioner as receiver shall make application to the court
for approval of a proposal to disburse unsecured assets out of
the company's marshalled assets, from time to time as such assets
become available, to the Property and Casualty Insurance Guaranty

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