Ch. 6                              1994 LAWS OF MARYLAND

"Member" § 20-101

"Natural Resources Pension System" § 20-101

"Regular interest" § 20-101

"Retirement" § 20-101

"State system" § 20-101

"State Police Retirement System" § 20-101

"Teachers' Pension System" § 20-101

"Teachers' Retirement System" § 20-101

TITLE 30. OPTIONAL RETIREMENT PROGRAM.

SUBTITLE 1. DEFINITIONS.

30-101. DEFINITIONS.

(A)     IN GENERAL.                               

IN THIS TITLE THE FOLLOWING WORDS HAVE THE MEANINGS INDICATED.
REVISOR'S NOTE: This subsection formerly was Art. 73B, § 11-101(a).
The only change is in style.

(B)     ANNUITY CONTRACT.                           

(1)      "ANNUITY CONTRACT" MEANS A FIXED OR VARIABLE ANNUITY
CONTRACT OR COMBINATION OF FIXED OR VARIABLE ANNUITY CONTRACTS
AUTHORIZED UNDER § 403(A) OR (B) OF THE INTERNAL REVENUE CODE.

(2)      "ANNUITY CONTRACT" INCLUDES A CUSTODIAL ACCOUNT TO BE
INVESTED IN REGULATED INVESTMENT COMPANY STOCK AS PROVIDED IN § 401(F)
OR § 403(B)(7) OF THE INTERNAL REVENUE CODE.

REVISOR'S NOTE: This subsection formerly was Art. 73B, § 11-101(b).

In paragraph (2) of this subsection, the reference to "amounts paid" is deleted
for clarity. An annuity contract that is described in this paragraph is the
custodial account itself and not limited to the amounts paid to the account.

No other changes are made.

(C)      DESIGNATED COMPANY.

"DESIGNATED COMPANY" MEANS AN ENTITY THAT:

(1)      ON OR BEFORE MARCH 1, 1993, WAS DESIGNATED BY THE
GOVERNING BOARD OF AN EMPLOYING INSTITUTION TO OFFER ANNUITY
CONTRACTS UNDER THE PROGRAM; OR

(2)      IS DESIGNATED BY THE BOARD OF TRUSTEES.

REVISOR'S NOTE: This subsection is new language derived without substantive
change from former Art. 73B, § 11-102(a)(2), as it related to a description of
designated companies.

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