PARRIS N. GLENDENING, Governor

Ch. 275

(2) THE GUARANTY FUND OR UNEARNED PREMIUM RESERVE
ESTABLISHED FOR TITLE INSURANCE CONTRACTS ISSUED DURING THE 20 YEARS
PRECEDING OCTOBER 1, 1997 SHALL BE RECALCULATED IN ACCORDANCE WITH THIS
SUBSECTION.

(3) THE AGGREGATE SUM OF ANY EXCESS RESERVES RESULTING FROM
A RECALCULATION UNDER THIS SUBSECTION SHALL BE RELEASED OVER A 5-YEAR
PERIOD IN EQUAL INSTALLMENTS OF 20% PER YEAR.

(B) (1) EACH TITLE INSURER SHALL FILE WITH ITS ANNUAL STATEMENT
REQUIRED UNDER § 4-116 OF THIS ARTICLE A CERTIFICATION BY A MEMBER IN
GOOD STANDING OF THE AMERICAN ACADEMY OF ACTUARIES AS TO THE
ADEQUACY OF ITS RESERVES REQUIRED UNDER THIS SECTION AND § 5-201(B) 5-103
OF THIS SUBTITLE TITLE

(2) THE ACTUARIAL CERTIFICATION REQUIRED OF A TITLE INSURER
MUST CONFORM TO THE NATIONAL ASSOCIATION OF INSURANCE COMMISSIONERS¹
ANNUAL STATEMENT INSTRUCTIONS FOR TITLE INSURERS

SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect
October 1, 1997.

Approved April 29, 1997.

CHAPTER 275
(House Bill 1115)

AN ACT concerning

Higher Education - Community Colleges - Debt Collection

FOR the purpose of establishing that a community college or board of trustees for a
community college established or operating under certain State law shall be deemed
a State agency for the purpose of authorizing the Central Collection Unit in the"
Department of Budget and Management to collect delinquent accounts or other
debt that is owed to a community college or board of trustees for a community
college; and generally relating to debt collection.

BY repealing and reenacting, with amendments,
Article - State Finance and Procurement
Section 3-302

Annotated Code of Maryland

(1995 Replacement Volume and 1996 Supplement)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the Laws of Maryland read as follows:

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