Ch. 604

1997 LAWS OF MARYLAND

(6)     A vehicle that is jointly owned and transferred to the name of one of the
owners, if the transferee can establish to the satisfaction of the Administration that the
transferor did not pay any part of the original purchase price of the vehicle or any
applicable taxes or fees for the vehicle;

(7)     A vehicle transferred by a corporation to its stockholder or stockholders
OR BY A LIMITED LIABILITY COMPANY TO ITS MEMBER OR MEMBERS as a liquidating
distribution of tangible personal property where the vehicle or vehicles transferred are
not a principal or substantial asset of the corporation OR LIMITED LIABILITY COMPANY
as determined by the Administration; or

(8)     A vehicle transferred as a result of a reorganization within the meaning
of § 368(a) of the Internal Revenue Code.

SECTION 2. AND BE IT FURTHER ENACTED, That the changes made to §
10-819 of the Tax - General Article by this Act shall be applicable to all taxable years
beginning after December 31, 1996.

SECTION 3. AND BE IT FURTHER ENACTED, That this Act shall take effect
July 1, 1997.

Approved May 22, 1997.

CHAPTER 604

(Senate Bill 568)

AN ACT concerning

Insurance - Fraternal Benefit Societies - Exempted Societies

FOR the purpose of exempting a certain type of fraternal benefit society from certain
provisions of the fraternal benefit society and insurance laws; and generally relating
to fraternal benefit societies.

BY repealing and reenacting, with amendments,
Article - Insurance
Section 8-404(a)
Annotated Code of Maryland
(1995 Volume and 1996 Supplement)
(As enacted by Chapter 36 of the Acts of the General Assembly of 1995)

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

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