Ch. 11                                      1996 LAWS OF MARYLAND

misleading". This revision is consistent with subsection (a)(13)(i), (ii), and
(iii) of this section.

In subsection (a)(13)(iii) of this section, the phrase "in the books of the
authorized insurer" has been added to modify the word "entry" for clarity and
to conform to subsection (a)(13)(iv) of this section.

In subsection (a)(14) of this section, the former phrase "to the extent" is
deleted as surplusage.

In the introductory language of subsection (b) of this section, the phrase "in
the State" is added to clarify the limitation on the power of the Commissioner
to determine the venue in which continued operation of an insurer would be
hazardous. This addition is consistent with the use of the term "authorized
insurer" and the limitation imposed under the introductory language of
subsection (a) of this section. Similarly, for consistency with the introductory
language of subsection (a) of this section, the former phrase "under this
subtitle" is deleted as surplusage.                                 

Defined terms: "Authorized insurer" § 1-101
"Commissioner" § 1-101

"Control" § 1-101                                        

"Insurance" § 1-101                                                       

"Insurance business" § 1-101
"Person" § 1-101
            "Policy" § 1-101

"Premium" § 1-101                                                               

"Reinsurance" § 1-101

9-103. ORDER OF COMMISSIONER.

IF THE COMMISSIONER DETERMINES THAT THE CONTINUED OPERATION OF
AN AUTHORIZED INSURER MAY BE HAZARDOUS TO POLICYHOLDERS OR
CREDITORS OF THE AUTHORIZED INSURER OR THE GENERAL PUBLIC, THE
COMMISSIONER MAY ISSUE AN ORDER THAT REQUIRES THE AUTHORIZED INSURER

TO:                     

(1)      REDUCE THE TOTAL AMOUNT OF PRESENT AND POTENTIAL
LIABILITY FOR BENEFITS UNDER POLICIES THROUGH REINSURANCE;

(2)     REDUCE, SUSPEND, OR LIMIT THE VOLUME OF BUSINESS BEING
ACCEPTED OR RENEWED;

(3)      REDUCE GENERAL INSURANCE AND COMMISSION EXPENSES BY
SPECIFIED METHODS;

(4)      INCREASE CAPITAL AND SURPLUS;

(5)      SUSPEND OR LIMIT THE DECLARATION AND PAYMENT OF
DIVIDENDS TO POLICYHOLDERS OR STOCKHOLDERS;

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