Ch. 27                                      1994 LAWS OF MARYLAND

[17-414.

A person who violates any provision of this subtitle is guilty of a misdemeanor and
on conviction is subject to a fine not exceeding $100 for the first offense and not
exceeding $500 for each subsequent conviction for a violation of the same provision. Each
day a violation is continued after the first conviction is a subsequent offense:]

SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect
October 1, 1994.

Approved April 12, 1994.

CHAPTER 27
(Senate Bill 166)

AN ACT concerning

Reciprocal Insurers - Surplus Funds - Requirements

FOR the purpose of altering the law relating to surplus funds for reciprocal insurers that
write assessable and nonassessable policies of insurance by specifying certain
minimum dollar amounts of surplus funds that those insurers are required to
maintain for one kind of insurance and for two or more kinds of insurance; deleting
certain obsolete provisions; restating that certain reciprocal insurers are subject to
certain deposit requirements; and generally relating to surplus funds requirements
and including deposit requirements for reciprocal insurers.

BY repealing

Article 48A - Insurance Code

Section 282

Annotated Code of Maryland                                                                 

(1991 Replacement Volume and 1993 Supplement)

BY adding to

Article 48A - Insurance Code

Section 282

Annotated Code of Maryland

(1991 Replacement Volume and 1993 Supplement)

BY repealing and reenacting, without amendments,
Article 48A - Insurance Code
Section 50

Annotated Code of Maryland
(1991 Replacement Volume and 1993 Supplement)

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