H.B. 286

VETOES

Speaker of the. House of Delegates
State House
Annapolis MD 21401

Dear Mr. Speaker:

In accordance with Article II, Section 17 of the Maryland Constitution, I have today
vetoed House Bill 286.

This emergency bill alters the assessment mechanism of the Maryland Automobile
Insurance Fund by prohibiting the Board of Trustees of the Fund from certifying an
operating loss for the calendar year 1994, and provides for the termination of this Act.

Senate Bill 258, which was passed by the General Assembly and signed by me on March
7, 1995, accomplishes the same purpose. Therefore, it is not necessary for me to sign
House Bill 286.

Sincerely,

Parris N. Glendening

Governor

House Bill No. 286

AN ACT concerning

Maryland Automobile Insurance Fund - 1995 Insufficiency Assessment

FOR the purpose of altering the assessment mechanism of the Maryland Automobile
Insurance Fund by prohibiting the Board of Trustees of the Fund from certifying an
operating loss for calendar year 1994; making this Act an emergency measure; and
providing for the termination of this Act.

BY repealing and reenacting, with amendments,
Article 48A - Insurance Code
Section 243A(b)(l)
Annotated Code of Maryland
(1994 Replacement Volume and 1994 Supplement)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the Laws of Maryland read as follows:

Article 48A - Insurance Code

243A.

(b) (1) (I) On or before March 15th of each calendar year, commencing in
1984, the Board of Trustees of the Fund shall certify to the Board of Directors of the
Association the actual operating loss, if any, sustained by the Fund for the immediately
preceding calendar year, on a cash or statutory accounting basis, whichever is greater.
The annual insufficiency so certified shall not include any insufficiency assessment

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