PARRIS N. GLENDENING, Governor                                   Ch. 11

1.        ARE AT INTERVALS AS THE COURT SPECIFIES IN ITS
ORDER, BUT NOT LESS FREQUENTLY THAN TWO TIMES EACH YEAR; AND

2.        INCLUDE THE OPINION OF THE REHABILITATOR ABOUT
THE LIKELIHOOD OF SUCCESS OF THE REHABILITATION.

(2) ISSUANCE OF AN ORDER OF REHABILITATION:

(I)       DOES NOT CONSTITUTE AN ANTICIPATORY BREACH OF ANY
CONTRACT OF THE INSURER; AND

(II)     IS NOT GROUNDS FOR RETROACTIVE REVOCATION OR
RETROACTIVE CANCELLATION OF A CONTRACT OF THE INSURER, UNLESS THE
REHABILITATOR REVOKES OR CANCELS THE CONTRACT.

(B)     ORDER TO TERMINATE REHABILITATION PROCEEDING.

(1)      SUBJECT TO PARAGRAPH (2) OF THIS SUBSECTION, THE
COMMISSIONER, OR AN INTERESTED PERSON ON DUE NOTICE TO THE
COMMISSIONER, MAY APPLY TO THE COURT AT ANY TIME FOR AN ORDER THAT:

(I)       TERMINATES A REHABILITATION PROCEEDING; AND

(II)     ALLOWS THE INSURER TO RESUME POSSESSION OF ITS
PROPERTY AND THE CONDUCT OF ITS BUSINESS.

(2)      AN ORDER UNDER THIS SUBSECTION MAY NOT BE ISSUED UNLESS,
AFTER A HEARING, THE COURT DETERMINES THAT:

(I)       THE PURPOSES OF THE REHABILITATION PROCEEDING HAVE
BEEN FULLY ACCOMPLISHED; AND

(II)     § 9-223 OF THIS SUBTITLE HAS BEEN SATISFIED.

(C)     ORDER TO LIQUIDATE DOMESTIC OR ALIEN INSURERS.

(1)      AN ORDER TO LIQUIDATE THE BUSINESS OF A DOMESTIC INSURER
SHALL DIRECT THE COMMISSIONER PROMPTLY:

(I)       TO TAKE POSSESSION OF THE PROPERTY OF THE INSURER;

(II)     TO LIQUIDATE THE BUSINESS OF THE INSURER;

(III)   TO DEAL WITH THE PROPERTY AND BUSINESS OF THE
INSURER IN THE NAME OF THE COMMISSIONER OR IN THE NAME OF THE INSURER,
AS THE COURT DIRECTS; AND

(IV)    TO NOTIFY ALL CREDITORS THAT MAY HAVE CLAIMS AGAINST
THE INSURER TO PRESENT THEIR CLAIMS.

(2)      THE COMMISSIONER MAY APPLY FOR, AND THE COURT MAY ISSUE,
AN ORDER TO DISSOLVE THE CORPORATE EXISTENCE OF A DOMESTIC INSURER:

(I) ON APPLICATION OF THE COMMISSIONER FOR AN ORDER TO
LIQUIDATE THE DOMESTIC INSURER; OR

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