Ch. 36                                      1995 LAWS OF MARYLAND

5-807. SUBSTITUTION OF TRUSTEE.

SUBJECT TO THE COMMISSIONER'S APPROVAL, A NEW TRUSTEE MAY BE
SUBSTITUTED FOR THE ORIGINAL TRUSTEE BECAUSE OF A VACANCY OR FOR
OTHER PROPER CAUSE.

REVISOR'S NOTE: This section is new language derived without substantive
change from former Art. 48A, § 131.

The former references to "trustees" are deleted as surplusage.

Defined term: "Commissioner" § 1-101

SUBTITLE 9. REINSURANCE.
5-901. DEFINITIONS.

(A)     IN GENERAL.

IN THIS SUBTITLE THE FOLLOWING WORDS HAVE THE MEANINGS INDICATED.

REVISOR'S NOTE: This subsection is new language added as the standard
introductory language to a definition section.

(B)     CEDING INSURER.

"CEDING INSURER" MEANS AN INSURER THAT PROCURES INSURANCE FOR
ITSELF FROM ANOTHER INSURER FOR ALL OR PART OF AN INSURANCE RISK.

REVISOR'S NOTE: This subsection is new language added to provide an express
definition of the term "ceding insurer". It is based on the reference to
"'ceding' insurer" in former Art. 48A, § 73, which defined the term
"reinsurance" and is revised in § 1-101 of this article.

Defined terms: "Insurance" § 1-101
"Insurer" § 1-101

(C)     REINSURER.

"REINSURER" MEANS AN INSURER FROM WHICH A CEDING INSURER
PROCURES INSURANCE FOR ITSELF FOR ALL OR PART OF AN INSURANCE RISK.

REVISOR'S NOTE: This subsection is new language added to provide an express
definition of the term "reinsurer". It is based on the reference to '"assuming'
insurer" or "reinsurer" in former Art. 48A, § 73, which defined the term
"reinsurance" and is revised in § 1-101 of this article.

Defined terms: "Ceding insurer" § 5-901
"Insurance" § 1-101
"Insurer" § 1-101

- 992 -