PARRIS N. GLENDENING, Governor                                   Ch. 36

Defined terms: "Commissioner" § 1-101
"Control" § 1-101
"Insurance" § 1-101
"Person" § 1-101

7-502. SECURITY ON ACQUISITION OF NONPROFIT HEALTH SERVICE PLAN OR
OTHER INSURER.

(A)     SCOPE OF SECTION.

THIS SECTION APPLIES TO A NONPROFIT HEALTH SERVICE PLAN OR INSURER
THAT IS BEING MERGED OR CONSOLIDATED WITH OR ACQUIRED BY ANOTHER
PERSON.

(B)     FINANCING MONEY AS SECURITY.

CURRENT FINANCING MONEY THAT, IN ACCORDANCE WITH REGULATIONS
ADOPTED BY THE HEALTH SERVICES COST REVIEW COMMISSION, IS PROVIDED BY A
NONPROFIT HEALTH SERVICE PLAN OR INSURER TO A HOSPITAL FOR DISCOUNTED
HOSPITAL RATES IS DEEMED TO BE SECURITY FOR THE OUTSTANDING CHARGES
THAT THE NONPROFIT HEALTH SERVICE PLAN OR INSURER OWES TO THE HOSPITAL
FOR BILLS OR CLAIMS FOR SERVICES THAT THE HOSPITAL PROVIDED BEFORE THE
MERGER, CONSOLIDATION, OR ACQUISITION.

REVISOR'S NOTE: This section is new language derived without substantive
change from former Art. 48A, § 503B.

Defined terms: "Insurer" § 1-101
"Person" § 1-101

SUBTITLE 6. REGISTRATION OF INSURERS IN INSURANCE HOLDING COMPANY

SYSTEMS.

7-601. REGISTRATION REQUIRED.

(A)     IN GENERAL.

(1)      EXCEPT AS PROVIDED IN SUBSECTION (B) OF THIS SECTION, EACH
AUTHORIZED INSURER THAT IS A MEMBER OF AN INSURANCE HOLDING COMPANY
SYSTEM SHALL REGISTER WITH THE COMMISSIONER IN ACCORDANCE WITH THE
REQUIREMENTS OF THIS SUBTITLE.

(2)      THE COMMISSIONER MAY ALLOW OR REQUIRE ANY AUTHORIZED
INSURER THAT IS PART OF AN INSURANCE HOLDING COMPANY SYSTEM TO
REGISTER AND FILE THE INFORMATION AND MATERIAL REQUIRED UNDER THIS
SUBTITLE FOR AN AFFILIATED INSURER THAT IS REQUIRED TO REGISTER UNDER
THIS SUBSECTION.

(B)     EXCEPTIONS.

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