WILLIAM DONALD SCHAEFER, Governor                         Ch. 490

that may include the continuation of the Task Force and a redefinition of its purpose and
that shall encourage the effective protection and replacement of forest resources,
improve the efficiency of implementation of the Act, and minimize the costs of
compliance by local governments and affected industries; and

(iii) By December 1, 1993, shall review regulations adopted under the Forest
Conservation Act, including revisions to the Guidance Manual, and may, as appropriate,
recommend amendments to those regulations in order to encourage the effective
protection and replacement of forest resources, promote innovation and efficiency in
program implementation, and improve coordination with local land use procedures.

(6) The Secretary shall advise the Advisory Group of any other significant issues
related to the implementation of the Forest Conservation Act.

SECTION 3. AND BE IT FURTHER ENACTED, That this Act shall take effect
June 1, 1993.

Approved May 27, 1993.

CHAPTER 490
(Senate Bill 916)

AN ACT concerning

Insurance - Annuity Agreements with Donors - Educational or Religious Organizations

FOR the purpose of altering the qualifications of an educational or religious organization
to which the Insurance Commissioner may issue a certain permit to make annuity
agreements with donors under certain circumstances; providing for the termination
of this Act; and generally relating to annuity agreements with donors and
educational or religious organizations.

BY repealing and reenacting, with amendments,
Article 48A - Insurance Code
Section 487(b)

Annotated Code of Maryland
(1991 Replacement Volume and 1992 Supplement)

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

Article 48A - Insurance Code

487.

(b) (1) Except as provided in paragraph (2) of this subsection, the
Commissioner, upon application and in his discretion, may issue a special permit to make
annuity agreements with donors to any educational or religious organization not
conducted for profit and engaged [solely] in bona fide educational or religious activities,

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