Ch. 36

1995 LAWS OF MARYLAND

(1)     THE AGGREGATE AMOUNT OF THE INVESTMENTS MADE UNDER
THIS SUBSECTION DOES NOT EXCEED 4% OF THE AMOUNT OF THE ADMITTED
ASSETS OF THE INSURER AT THE END OF THE PREVIOUS YEAR; AND

(2)     THE INVESTMENT DOES NOT VIOLATE ANY LIMITATIONS ON
ALLOWED INVESTMENTS UNDER THIS SECTION.

REVISOR'S NOTE: This section is new language derived without substantive
change from former Art. 48A, § 104.

In subsections (b)(2)(ii), the introductory language of (f)(2), and (f)(2)(ii) and
(iii) of this section, the former word "shares" is deleted as included in the
word "stock".

In subsections (j)(6) and (o) of this section, the former reference to a
"domestic" insurer is deleted as unnecessary in light of § 5-601 of this subtitle.

In subsection (n)(1)(v) of this section, the reference to "market" value is
substituted for the former reference to "sale" value for clarity.

In subsection (n)(2)(i) and (ii) of this section, the former word "all" is deleted
as surplusage.

In the introductory language of subsection (p)(2) of this section, the former
word "cash" is deleted as unnecessary because the word "currency" includes
"cash".

In subsection (p)(2)(i) of this section, the reference to any outstanding
insurance contracts or reinsurance contracts "in that country or possession" is
added for clarity.

In subsection (r) of this section, the reference to "deposits" is added for
clarity. The Insurance Article Review Committee notes this addition for the
attention of the General Assembly.

Also in subsection (r) of this section, the reference to the "Federal Deposit
Insurance Corporation" is substituted for the former references to the now
defunct "Federal Savings and Loan Insurance Corporation" and "Maryland
Savings-Share Insurance Corporation". See Pub. L. 101-73, Title VII, §
703(a), Aug. 9, 1989, 103 Stat. 415 and FI §§ 10-101 through 10-118. See also
the revisor's note to § 5-511 of this title.

In subsection (s)(2) of this section, the reference to the reserve requirements
of this "subtitle" is substituted for the former reference to this "section" for
accuracy. Reserve requirements are found outside of this section. See § 5-607
of this subtitle.

Defined terms: "Commissioner" § 1-101

"Insurance contract" § 1-101                                                           

"Insurer" § 1-101
"Reinsurance" § 1-101
"State" § 1-101

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