Ch. 36

1995 LAWS OF MARYLAND

ON REQUEST OF THE COMMISSIONER, A CEDING INSURER SHALL INFORM THE
COMMISSIONER PROMPTLY IN WRITING OF THE CANCELLATION OR ANY OTHER
MATERIAL CHANGE OF ANY OF ITS REINSURANCE TREATIES OR ARRANGEMENTS.

REVISOR'S NOTE: This section is new language derived without substantive
change from former Art. 48A, § 74(3), (4), and the second and fourth
sentences of (2).

Defined terms: "Ceding insurer" § 5-901
"Commissioner" § 1-101
"Domestic insurer" § 1-101
"Insurance business" § 1-101
"Insurer" § 1-101
"Reinsurance" § 1-101
"Reinsurer" § 5-901

5-905. UNAUTHORIZED INSURERS.

EACH UNAUTHORIZED INSURER THAT APPLIES FOR APPROVAL OR RENEWAL
OF APPROVAL AS AN ACCEPTED REINSURER SHALL FILE ANNUALLY WITH THE
COMMISSIONER:                                                                                                     

(1)     AN ANNUAL STATEMENT ON CONVENTION FORM;

(2)      A CERTIFICATE EVIDENCING A DEPOSIT; AND

(3)     A CERTIFICATE OF COMPLIANCE.

REVISOR'S NOTE: This section is new language derived without substantive
change from the third sentence of former Art. 48A, § 74(2).

In item (2) of this section, the reference to a certificate "evidencing" a deposit
is added for clarity.

Defined terms: "Commissioner" § 1-101
"Reinsurer" § 5-901
"Unauthorized insurer" § 1-101

SUBTITLE 10. LIMITATION OF RISK.
5-1001. 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)     SUBJECT OF INSURANCE.

- 994 -