WILLIAM DONALD SCHAEFER, Governor

Ch. 764

be a party to a conservatorship, rehabilitation, or
receivership; allowing the Insurance Commissioner and
certain guaranty associations to negotiate for the sale of
all or part of the assets and book of business of certain
insurers subject to approval by the court; providing an
appointed conservator, rehabilitator, or receiver with
certain powers and duties; allowing the Insurance
Commissioner to seek the replacement of an appointed
conservator, rehabilitator, or receiver under certain
circumstances; and generally relating to the powers and
duties of an appointed conservator, rehabilitator, or
receiver under the Insurance Code.

BY repealing and reenacting, with amendments,

Article 48A - Insurance Code

Section 133

Annotated Code of Maryland

(1986 Replacement Volume and 1988 Supplement)

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

Article 48A - Insurance Code

133.

[(1)] (A) The circuit courts of the counties are vested in
equity with exclusive original jurisdiction of delinquency
proceedings under this subtitle, and are authorized to make all
necessary and proper orders to carry out the purposes of this
subtitle.

[(2)] (B) The venue of delinquency proceedings against a
domestic insurer shall be in the county of the insurer's
principal place of business. The venue of such proceedings
against foreign and alien insurers shall be in Baltimore City.

[(3)] (C) Delinquency proceedings pursuant to this subtitle
shall constitute the sole and exclusive method of liquidating,
rehabilitating, reorganizing or conserving an insurer, and no
court shall entertain a petition for the commencement of such
proceedings unless the same has been filed in the name of the
State at the instance of the Commissioner.

[(4)] (D) An appeal shall lie to the Court of Special
Appeals from an order granting or refusing rehabilitation,
liquidation, or conservation, and from every other order in
delinquency proceedings having the character of a final order as
to the particular portion of the proceedings embraced therein.

- 4185 -