WILLIAM DONALD SCHAEFER, Governor                        Ch. 5

penalty of 5 percent and interest at the rate determined under [§
13-604(a)] § 13-604 of the Tax - General Article for each month
from the date of the notice that the tax was due.

DRAFTER'S NOTE:

Error: Erroneous cross-reference in Article 48A, §
61(l).

Occurred: As a result of Ch. 569, Acts of 1988.

80.

Where required in the form of annual statement required of
the insurer, the reserve for outstanding losses under insurance
against loss or damage from accident to or injuries suffered by
an employee or other person and for which the insured is
liable[,] shall be computed as follows:

(1)  For all liability suits being defended under
policies written more than:

(i) Ten (10) years prior to the date as of
which the statement is made, $1,500 for each suit.

(ii) Five (5) or more and less than ten (10)
years prior to the date as of which the statement is made, $1,000
for each suit.

(iii) Three (3) or more and less than five (5)
years prior to the date as of which the statement is made, $850
for each suit.

(2)  For all liability policies written during the
three (3) years immediately preceding the date as of which the
statement is made, the reserve shall be sixty percent (60%) of
the earned liability premiums of each of such three (3) years
less all losses and expense payment made under liability policies
written in the corresponding years; but in any event, such
reserve shall for the first of such three (3) years be not less
than $750 for each outstanding liability suit on such year's
policies.

(3)  For all workmen's compensation claims under
policies written more than three (3) years prior to the date as
of which the statement is made, the reserve shall be the present
value at four percent (4%) interest of the determined and the
estimated future payments.

(4)  For all workmen's compensation claims under
policies written in the three (3) years immediately preceding the
date as of which the statement is made, such reserve shall be
sixty-five percent (65%) of the earned compensation premiums of

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