Ch. 11                                      1996 LAWS OF MARYLAND

REVISOR'S NOTE: This subsection is new language derived without substantive
change from the introductory language of former Art. 48A, § 132.

(B)     ANCILLARY STATE.

"ANCILLARY STATE" MEANS A STATE OTHER THAN A DOMICILIARY STATE.

REVISOR'S NOTE: This subsection formerly was Art. 48A, § 132(7).

The only changes are in style.

As to the effect of this subsection as part of the Uniform Insurers Liquidation
Act, see § 9-202 of this subtitle.

Defined terms: "Domiciliary state" § 9-201
"State" § 9-201

(C)     CREDITOR.

"CREDITOR" MEANS A PERSON WITH A CLAIM AGAINST AN IMPAIRED
INSURER.

REVISOR'S NOTE: This subsection is new language derived without substantive
change from former Art. 48A, § 132(14).

The phrase "against an impaired insurer" is added for clarity.

The former language describing a claim as one "matured or unmatured,
liquidated or unliquidated, secured or unsecured, absolute, fixed or
contingent" is deleted as potentially misleading and unnecessary in light of the
general reference to "claim".

Defined terms: "Impaired insurer" § 9-201
"Person" § 1-101

(D)     DELINQUENCY PROCEEDING.

"DELINQUENCY PROCEEDING" MEANS A PROCEEDING UNDER THIS SUBTITLE
TO LIQUIDATE, REHABILITATE, REORGANIZE, OR CONSERVE AN INSURER OR
OTHER ENTITY SUBJECT TO THIS SUBTITLE.                 

REVISOR'S NOTE: This subsection is new language derived without substantive
change from former Art. 48A, § 132(3).

The reference to "other entity subject to this subtitle" is added to clarify that
the former reference to "such insurer" encompassed the former definition of
"insurer", which is revised as a scope provision in § 9-203 of this subtitle.

The terms "liquidation", "rehabilitation", "reorganization", and
"conservation" appear frequently throughout this subtitle, often in
combination and always without recognition of the different meanings of the
terms. Under liquidation proceedings, the Commissioner takes possession and
control of the assets of an insurer for the purpose of permanently retiring its
debts. When an insurer is subject to rehabilitation proceedings, the

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