Ch. 11                                      1996 LAWS OF MARYLAND

(II) AT ANY TIME AFTER THE COURT HAS GRANTED THE ORDER
OF LIQUIDATION.

(3) AN ORDER TO LIQUIDATE THE BUSINESS OF THE UNITED STATES
BRANCH OF AN ALIEN INSURER THAT HAS TRUSTEED ASSETS IN THE STATE SHALL:

(I)      BE ON THE SAME TERMS AS THOSE REQUIRED FOR A
DOMESTIC INSURER UNDER PARAGRAPH (1) OF THIS SUBSECTION; BUT

(II)     INCLUDE ONLY THE ASSETS OF THE BUSINESS OF THE UNITED
STATES BRANCH OF THE ALIEN INSURER.

(D)     ORDER TO CONSERVE ASSETS OF FOREIGN OR ALIEN INSURERS.

AN ORDER TO CONSERVE THE ASSETS OF A FOREIGN INSURER OR ALIEN
INSURER SHALL REQUIRE THE COMMISSIONER PROMPTLY TO TAKE POSSESSION OF
AND CONSERVE THE PROPERTY OF THE INSURER IN THE STATE, SUBJECT TO
FURTHER DIRECTION BY THE COURT.

(E)     ORDER TO LIQUIDATE ASSETS OF FOREIGN INSURERS.

AN ORDER TO LIQUIDATE THE ASSETS IN THE STATE OF A FOREIGN INSURER
SHALL REQUIRE THE COMMISSIONER PROMPTLY TO TAKE POSSESSION OF AND
LIQUIDATE THE PROPERTY OF THE INSURER IN THE STATE, SUBJECT TO FURTHER
DIRECTION BY THE COURT AND WITH DUE REGARD TO THE RIGHTS AND POWERS
OF THE DOMICILIARY RECEIVER AS PROVIDED IN THIS SUBTITLE.

REVISOR'S NOTE: This section is new language derived without substantive
change from former Art. 48A, §§ 142, 143, 144, and 141(a) through (d) and (f).

In subsection (a)(1)(ii)1 and (iii) of this section, the former references to
"assets" are deleted as unnecessary in light of the use of the word "property".

In subsection (a)(1)(iv)2 of this section, the former reference to a "report" is
deleted as unnecessary in light of the requirement that the accounting include
the "opinion" of the rehabilitator.                                   

In subsection (e) of this section, the reference to "further direction by the
court" is substituted for the former reference to "orders of the court" for
consistency with subsection (d) of this section.

Defined terms: "Alien insurer" § 1-101
"Commissioner" § 1-101
"Creditor" § 9-201
"Domestic insurer" § 1-101
"Foreign insurer" § 1-101
"Person" § 1-101
"Receiver" § 9-201
"State" § 1-101

9-213. APPOINTED RECEIVERS.

(A) "APPOINTED RECEIVER" DEFINED.

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