PARRIS N. GLENDENING, Governor

Ch. 11

Defined terms: "Commissioner" § 1-101

"Insurance business" §§ 1-101 and 9-201
"Insurer" § 1-101
"Mutual insurer" § 1-101
"Reciprocal insurer" § 1-101
"Stock insurer" § 1-101

(I) INSURANCE BUSINESS.

"INSURANCE BUSINESS" INCLUDES ANY OF THE ACTS OF AN INSURANCE
BUSINESS SPECIFIED IN § 4-205 OF THIS ARTICLE.

REVISOR'S NOTE: This subsection is new language derived without substantive
change from former Art. 48A, § 132(15).

The reference to "insurance" business is added for clarity and to conform to
language used in § 4-205 of this article.

Defined term: "Insurance business" § 1-101

(J) RECEIVER.

"RECEIVER" INCLUDES A CONSERVATOR, REHABILITATOR, AND LIQUIDATOR.

REVISOR'S NOTE: This subsection is new language derived without substantive
change from former Art. 48A, § 132(13).

The word "includes" is substituted for the former word "means" because this
definition seems intended to be illustrative of the types of entities
encompassed by the defined term.

The former phrase "as the context may require" is deleted as implicit.

(K) RECIPROCAL STATE.

"RECIPROCAL STATE" MEANS A STATE OTHER THAN THIS STATE IN WHICH THE
SUBSTANCE AND EFFECT OF THE PROVISIONS OF THIS SUBTITLE ARE IN FORCE,
INCLUDING THE REQUIREMENT THAT THE COMMISSIONER OR EQUIVALENT
INSURANCE SUPERVISORY OFFICIAL BE THE RECEIVER OF AN INSURER SUBJECT TO
A DELINQUENCY PROCEEDING AND A PROVISION FOR AVOIDANCE OF
FRAUDULENT CONVEYANCES AND PREFERENTIAL TRANSFERS.

REVISOR'S NOTE: This subsection is new language derived without substantive
change from former Art. 48A, § 132(8).

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

Defined terms: "Commissioner" § 1-101
"Delinquency proceeding" § 9-201
"Insurance" § 1-101
"Insurer" § 1-101

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