Ch. 36

1995 LAWS OF MARYLAND

Also in subsection (c)(1) of this section, the former cross-reference to
"Subtitle 19 of Article 48A" is deleted as obsolete because the provisions of
that former subtitle are revised in this subtitle.

In subsection (c)(2) of this section, the term "activity" is substituted for the
former term "advantage" in the series referring to the permissible purposes of
a society. The use of the term "activity" is more descriptive of the full range of
permissible purposes of a society.

Defined terms: "Insurer" § 1-101
"Society" § 8-401
"State" § 1-101

8-412. FILING REQUIREMENTS.

(A)     IN GENERAL.

THE INCORPORATORS SHALL FILE WITH THE COMMISSIONER:

(1)      THE ARTICLES OF INCORPORATION OF THE SOCIETY;

(2)      CERTIFIED COPIES OF THE SOCIETY'S CONSTITUTION, LAWS, AND
RULES;

(3)      COPIES OF ALL PROPOSED:

(I)       FORMS OF CERTIFICATES;

(II)     APPLICATIONS FOR CERTIFICATES; AND

(III)    CIRCULARS TO BE ISSUED BY THE SOCIETY; AND

(4)      A BOND CONDITIONED ON THE RETURN TO APPLICANTS OF
ADVANCE PREMIUMS IF THE ORGANIZATION OF THE SOCIETY IS NOT COMPLETED
WITHIN 1 YEAR.

(B)     ADDITIONAL INFORMATION.

THE COMMISSIONER MAY REQUIRE ANY ADDITIONAL INFORMATION THAT
THE COMMISSIONER CONSIDERS NECESSARY.

(C)      REQUIREMENTS FOR BOND.

THE BOND REQUIRED UNDER SUBSECTION (A) OF THIS SECTION MUST:

(1)      BE ISSUED BY A SURETY INSURER APPROVED BY THE
COMMISSIONER; AND

(2)      BE IN THE AMOUNT REQUIRED BY THE COMMISSIONER, BUT NOT
LESS THAN $5,000 NOR MORE THAN $25,000.

(D)     ENGLISH LANGUAGE REQUIREMENT.

EACH DOCUMENT FILED SHALL BE IN THE ENGLISH LANGUAGE.

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