S.B. 440

VETOES

(8) A health care practitioner with a beneficial interest in, or compensation
arrangement with, a hospital or related institution as defined in § 19-301 of the Health -
General Article or a facility, service, or other entity that is owned or controlled by a
hospital or related institution or under common ownership or control with a hospital or
related institution if:

(i) The beneficial interest was held or the compensation arrangement
was in existence on January 1, 1993; and

(ii) Thereafter the beneficial interest or compensation arrangement of
the health care practitioner does not increase.

(e) A health care practitioner exempted from the provisions of this section in
accordance with subsection (d) shall be subject to the disclosure provisions of § 1-303 of
this subtitle.

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

May 22, 1997

The Honorable Thomas V. Mike Miller, Jr.
President of the Senate
State House
Annapolis MD 21401

Dear Mr. President:

In accordance with Article II, Section 17 of the Maryland Constitution, I have today
vetoed Senate Bill 440.

This bill requires insurers to alter the amount of unearned premium reserves if they are
inadequate and alters the formula used by title insurers to calculate reserves applicable to
contracts.

House Bill 1108, which was passed by the General Assembly and signed by me on April
29, 1997, accomplishes the same purpose. Therefore, it is not necessary for me to sign
Senate Bill 440.

Sincerely,

Parris N. Glendening

Governor

Senate Bill No. 440

AN ACT concerning

Title Insurers - Reserves

FOR the purpose of requiring insurers to alter the amount of unearned premium reserves
under certain circumstances; altering the formula used by title insurers to calculate
reserves applicable to certain contracts; requiring that certain reserves be

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