Ch. 36                                     1995 LAWS OF MARYLAND

(VI)   AGREES TO SUBMIT TO PERIODIC EXAMINATIONS AS THE
COMMISSIONER CONSIDERS NECESSARY; AND

(VII)  PAYS THE PREMIUM TAX IMPOSED BY TITLE 6 OF THIS ARTICLE
ON ALL PREMIUMS ALLOCABLE TO THIS STATE FOR LIFE INSURANCE AND HEALTH
INSURANCE IN EFFECT FOR RESIDENTS OF THIS STATE.

REVISOR'S NOTE: This section is new language derived without substantive
change from former Art. 48A, §§ 9 and 211(c).

In item (3) of this section, the former reference to "this subtitle" is deleted as
included in the more comprehensive reference to "[t]his article".

Also in item (3) of this section, the former reference to "any provision of this
article other than § 632 of this article" is deleted as unnecessary based on the
reference to "Title 6 of this article" in item (3)(vii) of this section.

Defined terms: "Annuity contract" § 1-101
"Commissioner" § 1-101
"Health insurance" § 1-101
"Life insurance" § 1-101
"Premium" § 1-101
"State" § 1-101

1-203. APPLICATION OF ARTICLE TO CERTIFICATES OF GUARANTEE.

(A)     DEFINITIONS.

(1)      IN THIS SECTION THE FOLLOWING WORDS HAVE THE MEANINGS
INDICATED.

(2)     "CERTIFICATE OF GUARANTEE" MEANS AN INSTRUMENT THAT IS
ISSUED:

(I) BY A NONPROFIT ASSOCIATION OF CONTRACTORS, OR ITS
WHOLLY OWNED SUBSIDIARY THAT IS APPROVED TO OPERATE BY PRINCE
GEORGE'S COUNTY OR MONTGOMERY COUNTY, AS APPROPRIATE; AND

(II) ON BEHALF OF A CONTRACTOR FOR THE PURPOSE OF

SATISFYING:

1.       COUNTY BOND REQUIREMENTS FOR PUBLIC
IMPROVEMENTS; OR

2.       OTHER COUNTY BOND REQUIREMENTS.

(3)      "CONTRACTOR" MEANS A PERSON THAT, FOR A FIXED PRICE,
COMMISSION, FEE, OR PERCENTAGE, UNDERTAKES TO BID ON OR ACCEPTS OR
OFFERS TO ACCEPT ORDERS OR CONTRACTS TO PERFORM OR SUPERVISE THE
CONSTRUCTION, IMPROVEMENT, OR MAINTENANCE OF A BUILDING, STRUCTURE,
OR ROAD.

(B)     IN GENERAL.

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