Ch. 36

1995 LAWS OF MARYLAND

(2) DOES NOT OBLIGATE ITSELF TO PAY NATURAL DEATH OR SICKNESS
BENEFITS.

(D) INFORMATION REQUIRED TO DETERMINE EXEMPTION.

BY EXAMINATION OR OTHERWISE, THE COMMISSIONER MAY REQUIRE
INFORMATION FROM ANY SOCIETY OR ASSOCIATION THAT WILL ENABLE THE
COMMISSIONER TO DETERMINE WHETHER THE SOCIETY OR ASSOCIATION IS
EXEMPT FROM THIS SUBTITLE.

REVISOR'S NOTE: This section is new language derived without substantive
change from former Art. 48A, § 306 and former CA § 6-421.

In subsection.(a)(1)(i) of this section, the date "December 31, 1963", which is
the effective date of Chapter 553 of the Laws of 1963, is substituted for the
former erroneous reference to "June 1, 1963".

In the introductory language of subsection (c) of this section, the former
phrases "shall have all of the privileges" and "has every privilege" are deleted
as surplusage.

Also in the introductory language of subsection (c) of this section, the former
obsolete reference to "Subtitle 19 of Article 48A of the Code" is deleted.

Defined terms: "Commissioner" § 1-101
"Insurance" § 1-101
"Person" § 1-101
"Society" § 8-401

8-405. TAXATION OF SOCIETIES.

(A)     SOCIETIES DEEMED TO BE CHARITABLE AND BENEVOLENT
INSTITUTIONS.

A SOCIETY ORGANIZED OR AUTHORIZED TO TRANSACT BUSINESS UNDER THIS
SUBTITLE IS DEEMED TO BE A CHARITABLE AND BENEVOLENT INSTITUTION.

(B)     FUNDS EXEMPT FROM TAXATION.

THE FUNDS OF A SOCIETY ORGANIZED OR AUTHORIZED TO TRANSACT
BUSINESS UNDER THIS SUBTITLE ARE EXEMPT FROM ALL TAXES, EXCEPT TAXES ON
REAL ESTATE AND OFFICE EQUIPMENT.

REVISOR'S NOTE: This section is new language derived without substantive
change from former Art. 48A, § 344.

In subsection (a) of this section, the reference to a society "authorized to
transact business" is substituted for the former reference to a society "licensed
under this subtitle" for consistency with terminology used elsewhere in this
subtitle.

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