PARRIS N. GLENDENING, Governor                               Ch. 60

Occurred: Ch. 36, Acts of 1995.

(s) "Industrial life insurance" means life insurance provided by an individual
policy with the term "industrial" printed on the policy as part of the brief description
required by § 15-213 [ 48A, § 399] of this article, and under which premiums are payable
monthly or more frequently, if the face amount of the insurance provided by the policy
does not exceed $1,000.

(t) "Insurance" means a contract to indemnify or to pay or provide a specified or
determinable amount of money or benefit on the occurrence of a determinable
contingency.

(u) (1) "Insurance business" includes transaction of:

(i) all matters pertaining to an insurance contract, either before or
after it takes effect; and

DRAFTER'S NOTE:

Error: Defined terms not in correct alphabetical order in § 1-101 of the
Insurance Article.

Occurred: Ch. 36, Acts of 1995. Correction by the Michie Company in the
1995 Insurance Volume is validated by this Act.

(ee) (3) "Premium" does not include:

(i) an assessment as described in [§ 9-XXX [Art. 48A, § 163)]] §
9-225 of this article; or

DRAFTER'S NOTE:

Error: Incomplete cross-reference in § 1-101(ee)(3)(i) of the Insurance
Article.

Occurred: Ch. 36, Acts of 1995.

(oo) "Surplus lines insurance" means the full amount or kind of insurance needed
to protect the interest of the insured that:

(2) for the particular kind and class of insurance to provide coverage against
liability of persons described in [§ XX-XXX of this article [Art. 48A, § 551(c)(1), (2),
and (3)]] § 24-206(1) OF THIS ARTICLE, cannot be obtained from three or more
authorized insurers that write that kind and class of insurance on a broad basis.

DRAFTER'S NOTE:

Error: Incomplete cross-reference in § 1-101(oo)(2) of the Insurance
Article.

Occurred: Ch. 36, Acts of 1995.

1-203.

(a) (2) "Certificate of guarantee" means an instrument that is issued:

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