Ch. 28

1994 LAWS OF MARYLAND

50.

The Commissioner shall not issue a certificate of authority to any insurer unless it
has deposited and maintains in trust with the State Treasurer, for the protection of its
policyholders or its policyholders and creditors, cash or government securities eligible for
the investment of capital funds of domestic insurers (of the type described in § 110) in the
amount of not less than one hundred thousand dollars; except:                             

(1)     As to foreign insurers in lieu of such deposit or part thereof with the
State Treasurer, the Commissioner shall accept the current certificate of the state
insurance supervisory official of any other state that a like deposit by such insurer is being
maintained in public custody or in a depository approved by such supervisory official in
such state in trust for the purpose of protection of all policyholders or policyholders and
creditors of such insurer in the United States.

(2)     As to alien insurers in lieu of such deposit or part thereof with the State
Treasurer, the Commissioner shall accept evidence satisfactory to him that the insurer
maintains within the United States in public depositories, or in trust institutions within
the United States approved by the Commissioner, assets available for discharge of its
United States insurance obligations in an amount not less than the outstanding liabilities
of the insurer arising out of its insurance business in the United States, together with an
amount equal to the deposit required under this section for other insurers requesting
authority to engage in like kinds of insurance business.,

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

Approved April 12, 1994.

CHAPTER 28
(House Bill 24)

AN ACT concerning

Anatomical Donations - Billing for Costs of Removal - Prohibition

FOR the purpose of prohibiting a hospital and certain other persons from billing certain
persons for the costs associated with the removal of a decedent's tissues and organs
for the purpose of an anatomical donation.

BY repealing and reenacting, with amendments,
Article - Estates and Trusts
Section 4-504

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

BY repealing and reenacting, with amendments,
Article - Health - General

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