PARRIS N. GLENDENING, Governor

Ch. 36

(2)     ALL OUTSTANDING POLICIES OF A TRANSFERRING INSURER
REMAIN IN EFFECT AND NEED NOT BE ENDORSED WITH THE NEW NAME OF THE
INSURER OR THE NEW DOMICILIARY AND LOCATION OF THE INSURER UNLESS THE
COMMISSIONER SO ORDERS.

(3)     A TRANSFERRING INSURER:

(I)      MAY FILE NEW POLICY FORMS WITH THE COMMISSIONER ON
OR BEFORE THE EFFECTIVE DATE OF THE TRANSFER; OR

(II)     IF ALLOWED BY AND UNDER CONDITIONS APPROVED BY THE
COMMISSIONER, MAY USE ANY EXISTING POLICY FORM PREVIOUSLY FILED WITH
THE COMMISSIONER WITH APPROPRIATE ENDORSEMENTS.

(4)     A FOREIGN INSURER THAT TRANSFERS ITS DOMICILE TO ANOTHER
STATE SHALL:

(I)      NOTIFY THE COMMISSIONER OF THE DETAILS OF THE
PROPOSED TRANSFER; AND

(II)     FILE PROMPTLY WITH THE COMMISSIONER ANY RESULTING
AMENDMENTS TO CORPORATE DOCUMENTS AND OTHER ITEMS ON FILE WITH THE
COMMISSIONER.

REVISOR'S NOTE: This section is new language derived without substantive
change from former Art. 48A, § 249A.

In subsection (a) of this section, the former reference to foreign insurers
becoming domestic insurers "of this State" is deleted as redundant in light of
the definition of "domestic insurer" in § 1-101 of this article.

In subsection (a)(2)(ii) of this section, the former reference to the original
domiciliary "district, territory, commonwealth, or possession of the United
States of America" is deleted in light of the definition of "state" in § 1-101 of
this article, which includes those additional jurisdictions.

In subsection (b)(1) and (2) of this section, the former references to remaining
"in full force" are deleted as unnecessary in light of references to remaining
"in effect".

Defined terms: "Certificate of authority" § 1-101
"Commissioner" § 1-101
"Domestic insurer" § 1-101
"Foreign insurer" § 1-101
"Insurance business" § 1-101
"Insurer" § 1-101
"Policy" § 1-101
"State" § 1-101

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